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17th Dec 2025 10:04UKDaily Monitor
  • The MPC reduced Bank Rate by 25bp to 3.75% in a widely expected five-to-four vote yesterday.
  • But the meeting minutes were guarded, and Governor Bailey struck a hawkish tone on the pace of pay gains.
  • We remain comfortable with our call for just one more cut to Bank Rate in 2026; it will be closely fought.

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Keywords for: 19 December 2025 UK Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence