Bank of England statement after today's interest rate fixing decision

- The Bank of England kept the interest rate unchanged at 4.75%.

- The interest rate vote was expected by 6-3 to 8-1 last month, with Dingra, Ramsden and Taylor all voting in favor of cutting bank interest rates by 25 basis points.

- The gradual approach to reducing interest rates in the future is still correct.

- We cannot commit to when or how much to cut interest rates in 2025 due to the high economic uncertainty.

- Consumer price inflation in services remained high.

- The effects of uncertainty on trade policy are unclear and may take some time to become apparent.

- The remaining local inflationary pressures fade more slowly.

- Most indicators of activity in the UK have declined in the near term.

- The labor market is generally balanced.

- There is still a great deal of uncertainty about its developments, especially wage indicators. Monetary policy will need to remain tight long enough for the risks of a sustained return of inflation to the 2% target in the medium term to dissipate.