The Bank of England meets on 21st March 2024 to set interest rates.
Will they be kept on hold for the 5th meeting in a row? Will the next move be up or down, and will the fact that this is an election year influence the decision?
Here are some markets on other UK economic stats:
/SimonGrayson/will-the-uks-monthly-gdp-figure-pub-5cb61d5d7909
/SimonGrayson/how-high-will-the-uks-cpi-inflation-0fdd5974ae5d
🏅 Top traders
| # | Name | Total profit |
|---|---|---|
| 1 | Ṁ121 | |
| 2 | Ṁ88 | |
| 3 | Ṁ34 | |
| 4 | Ṁ30 | |
| 5 | Ṁ23 |
To no-one’s surprise, the Bank of England have held rates at 5.25%.
Unlike last month, no members of the committee voted for a rise (2 voted for a rise last time). Like last month, one member voted for a cut to 5%.
But this 8-1 result seems like it might be exaggerating how emphatic the decision to hold rates was as there is a lot of chatter about the BoE being very close to a rate cut. Will it come next time?