December 19, 2024
Interest rates held at 4.75%
There was hope that interest rates would be reduced at the last meeting of the year, but it wasn't.
This is the last meeting before 2025. All 10 members voted, and a relatively convincing 7 to 3 voted for holding rates, which were 4.75%.
The next meeting is on the 6th February 2025.
| Member | Direction | Amount |
|---|---|---|
| Andrew Bailey (Governor) | Hold | |
| Dave Ramsden | Down | 0.25% |
| Sarah Breeden | Decrease | 5% |
| Swati Dhingra | Decrease | 5% |
| Clare Lombardelli | Decrease | 5% |
| Huw Pill | Hold | 5.25% |
| Megan Greene | Hold | 5.25% |
| Jonathan Haskel | Hold | 5.25% |
| Catherine Mann | Hold | 5.25% |
The overall feeling is that rates are still too high and need to decrease. 3% - 3.5% is the most common prediction by the end of 2025. But that depends on many factors influencing the committee to hold off as they have just done.
Here is to a more positive 2025!
Lee Wisener
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