Bank of England holds at 3.75 percent as three members vote to raise rates
The Bank of England held Bank Rate at 3.75 percent in a 6 to 3 vote. Megan Greene, Catherine Mann and Huw Pill preferred an increase to 4 percent.
Three members dissented.
The September minutes say higher energy prices have lifted the near-term inflation path, with Bank staff expecting inflation around 3.75 percent in the fourth quarter and slightly above 4 percent in early 2027.
The committee also unanimously set a multi-year plan to unwind the remaining £368bn of gilts held for monetary policy by the end of 2034. The average pace is £46bn a year, using £20bn of annual sales alongside maturities.
