Bank of England's Decision to Cut Rates by 25 Basis Points Was a Close Call

According to Jin10 data, Mitsubishi UFJ analyst Derek Halpenny stated that the remarks from Bank of England policymakers Green and Lombardi indicate that last week's decision to cut rates by 25 basis points was a close call. Both were very balanced in their considerations of whether to cut rates.

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 Lombardi may vote to keep interest rates unchanged. The Bank of England supported a 25 basis point interest rate cut last week with a vote of 5 to 4, with two members leaning towards keeping rates unchanged and two members supporting a 50 basis point cut.