Overview
- The Bank of England will release its interest rate decision at 12:02 pm on May 8, postponing the customary timing by two minutes to observe a VE Day commemorative silence.
- This marks a rare procedural adjustment, with previous instances occurring in 2010 during a general election and in 2022 following Queen Elizabeth II's death.
- The Monetary Policy Committee is widely anticipated to lower the base rate by 25 basis points to 4.25%, reflecting a shift toward monetary easing.
- Financial markets are pricing in additional rate cuts throughout the year, with forecasts suggesting rates could drop to as low as 3.25% by year-end.
- The decision aligns with broader economic pressures, including slowing growth, inflation uncertainties, and international trade challenges.