Clare Lombardelli

Deputy Governor for Monetary Policy, Bank of England; MPC member

Appears in 1 story

Born: November 20, 1978

Education: Magdalen College, London School of Economics and Political Science

Previous offices: Deputy Governor of the Bank of England, OECD Chief Economist

Last updated Nov 1, 2026

Stories

Bank of England cuts to 3.75%—one vote, two stories, and a fight over what “neutral” means

Money Moves

As of May 2026: Voted to hold at 4.00%, arguing soft data hasn’t changed the picture much

This cut had courtroom drama energy. The Bank of England dropped rates to 3.75%—but only because Governor Andrew Bailey switched his vote and made it 5–4. The immediate market read was hawkish-by-UK-standards: sterling rose and gilt yields ticked higher as traders pared back expectations for rapid 2026 easing.

Updated May 15