The Bank of England kept rates steady, matching expectations, while two policymakers voted for a 25 bps increase.
The Bank of England left its benchmark rate unchanged at 3.75% in June, aligning with market expectations. The decision saw a 7-2 vote, with Chief Economist Huw Pill and external member Catherine Greene dissenting in favor of a 25 bps hike.
Markets had priced in 35 bps of tightening by year-end, with a 58% probability of a September rate increase. The prior meeting also ended with a 7-2 vote, reflecting persistent divisions within the Monetary Policy Committee.
No immediate market reaction was detailed, though the split vote underscores ongoing inflation concerns among policymakers.