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# Interest Rates Held again at 5.25%
- URL: https://wisener.net/interest-rates-held-again-at-525/
- Published: 2024-02-01T00:00:00.000Z
- Updated: 2026-10-12T18:27:37.000Z
- Description: Interest rates have been held at 5.25% again; this is the 5th time rates have been steady at this level, having peaked in August 2023. There may be some good news on the horizon though.
- Author: Lee Wisener
- Tags: Interest, #Import 2026-10-12 18:55

# Voting at the Monetary Policy Committee

Voting at the Monetary Policy Committee resulted in the interest rate being held at 5.25%. The rate has been holding at this level since August 2023.

## The Voting

There was an entire committee of 9 for the vote. Six voted to hold at 5.25%, two voted to increase to 5.50%, and one voted to reduce to 5%. Still, some believe that the rate is not high enough, but there is no real suggestion of rate reduction based on the voting.

| Member                   | Direction | Amount |
| ------------------------ | --------- | ------ |
| Andrew Bailey (Governor) | Hold      | 5.25%  |
| Ben Broadbent            | Hold      | 5.25%  |
| Huw Pill                 | Hold      | 5.25%  |
| Dave Ramsden             | Hold      | 5.25%  |
| Megan Greene             | Hold      | 5.25%  |
| Sarah Breeden            | Hold      | 5.25%  |
| Jonathan Haskel          | Increase  | 5.50%  |
| Catherine Mann           | Increase  | 5.50%  |
| Swati Dhingra            | Decrease  | 5%     |

## Outlook

Whilst the voting shows no sign of voting towards a reduction other than one vote, the Bank of England does suggest it may be coming. They have at least discussed the potential to reduce interest. This is likely a result of inflation expected to fall quicker this year.

Although discussing it, I do not foresee there being a reduction until the committee is certain inflation is fully under control. I can’t recall the last time there was a mix of hold, increase and reduce voting with the MPC. That may be something or nothing.

As always, if I was to bet on it, I would suggest the rate will drop by the end of Q2 2024.