Swati Dhingra

Money Moves

As of May 2026: Voted to cut to 3.75%, emphasizing downside growth risks

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