BOE Cuts to 3.75% in Divided Vote, Sterling Edges Higher on Hawkish Tone
The Bank of England (BOE) cut its Bank Rate by 25 basis points to 3.75% at its December meeting, delivering the sixth rate reduction since August 2024. However, the decision proved far more contentious than markets anticipated, with the Monetary Policy Committee voting 5-4 in favor of the cut, revealing deep divisions about the path…