Bank of England's 25 Basis Point Rate Cut Decision Was Closely Contested

According to Jin Ten data, Mitsubishi UFJ analyst Derek Halpenny stated that the remarks of Bank of England policymakers Green and Lumbardelli indicate that last week's decision to cut rates by 25 basis points was a closely contested outcome. The considerations of the two regarding whether to cut rates are very balanced.

This decision was made before the UK-US trade agreement and the easing of tensions between China and the US. If the meeting is postponed by a week, Green and Lumbardelli may vote to keep interest rates unchanged. The Bank of England supported a 25 basis point rate cut last week with a 5 to 4 vote, with two members leaning towards keeping rates unchanged and two members supporting a 50 basis point cut.