A historic vote and a hawkish cut

BoE: A historic vote and a hawkish cut

The Bank of England (BoE) delivered a widely expected 25bp cut on Thursday, taking interest rates to a two-year low of 4%. But the real story was in the balance of views on the Monetary Policy Committee (MPC), which for the first time in its 28-year history had to conduct two rounds of voting and has forced markets to reassess the path of future rate cuts.

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