Cut interest rates by 25 basis points, Shadow MPC says

City AM's Shadow MPC voted for interest rates to be cut.

Top economists on City AM ’s Shadow Monetary Policy Committee (MPC) have called for interest rates to be cut to 3.75 per cent in a narrow 5-4 vote.

Economists from academia, business and City giants have said that the UK’s weakening demand and easing price pressures suggested the Bank of England should look to cut interest rates this Thursday.

The knife-edge vote reflects the growing sense of anticipation ahead of this week’s crucial meeting, with markets expecting interest rates to be held at four per cent.

A 25 basis point cut would take interest rates to their lowest level since January 2023, which could help to ease the cost of living for Brits with high mortgages.

It could also signal that lower borrowing costs are set