1231 GMT - The Bank of England's decision to keep interest rates on hold was no surprise but the vote breakdown was striking, says Aberdeen's Luke Bartholomew in a note. Of the nine monetary policy committee members, only Swati Dhingra voted for a 25 basis-point cut, while Catherine Mann went from voting for a large 50 basis-point reduction last month to voting to hold rates this month. The BOE faces a very challenging economic environment, with growth having slowed but inflation pressures remaining elevated, the deputy chief economist says. "This will keep the Bank on its 'gradual and careful' cutting path for now, with another cut likely in May." (emese.bartha@wsj.com)

(END) Dow Jones Newswires

March 20, 2025 08:31 ET (12:31 GMT)

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