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Bank of England Delays Interest Rate Decision to Honor VE Day Silence

The Monetary Policy Committee's decision, expected to include a 25 basis point rate cut, will be announced at 12:02 pm on May 8, two minutes later than usual.

A man walks down the stairs as the Bank of England building is seen on the backdrop in London, Britain, April 14, 2025. REUTERS/Carlos Jasso/File Photo

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.