MPC Expected to Hold Rate Steady but Lenders Likely to Continue Reducing Rates

The Bank of England’s Monetary Policy Committee (MPC) is set to convene next week on Thursday, June 19, in what could be a pivotal moment for the UK economy. This meeting, as always, will be closely watched by market participants, financial analysts, and policymakers. The MPC's decision regarding the UK base rate will come on the heels of the inflation report for May, which will be released the day before. This sequence of events adds a layer of anticipation, as the inflation data is expected to heavily influence the committee's deliberations and eventual decision.