Bank of England interest rate decision to be scrutinised following close MPC vote
Members of the Bank of England’s Monetary Policy Committee (MPC) will appear in front of the Treasury Committee.
Meeting details
The session will focus on the Bank’s November Monetary Policy Report and the decision to maintain the Bank Rate at 4%.
The Deputy Governor for Monetary Policy, Clare Lombardelli, and the Deputy Governor for Markets and Banking, Sir Dave Ramsden, will both give evidence. They will appear alongside two External Members, Professor Swati Dhingra and Dr Catherine Mann. The Governor, Andrew Bailey, is unable to attend due to an unavoidable international commitment.
In November, the MPC voted by a narrow majority to hold interest rates at 4%. Five members, including Ms Lombardelli and Dr Mann, opted to hold at 4% while four members, including Sir Dave and Professor Dhingra, voted for a cut to 3.75%.