Will the Bank of England change the UK's interest rate at their 21st March meeting?

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resolved Mar 21

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Keep rates the same (5.25%)

0.0%

Raise rates

0.2%

Lower rates

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:

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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?

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