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The Bank of England is keeping Britain in the waiting room
Friday 19 June 2026 8:07 am | Updated: Friday 19 June 2026 10:19 am
The Bank of England is keeping Britain in the waiting room
By: Emmanuel Igwe
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Add as a preferred source on GoogleThe Bank of England, headed up by Andrew Bailey, held interest rates last week
The MPC’s decision to holding the Bank rate for the fourth meeting is downstream of a government, and a country, that’s run out of ideas, says Emmanuel Igwe
What sound does a country make when it has run out of ideas?
Rather than cacophonous noise or a muted groan, I would say that sound is more akin to hold music on a loop – the sonic expression of an institution that would prefer to keep you on hold than tell you the truth. Whatever it is, we’ve certainly heard it this week.
For the fourth meeting in a row, the Bank of England has held its Bank rate at 3.75 per cent – its lowest level since early 2023, and there is no indication that it might raise rates soon. In an interview with Bloomberg following the last Monetary Policy Committee (MPC) decision, Andrew Bailey described the Bank’s decision to uphold Bank rate as an “active hold”. This is the sort of phrase that makes........
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