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  • We expect the MPC to vote six-to-three to keep Bank Rate on hold at its meeting on November 6.
  • The vote is a close call, but we see the MPC teeing up a cut in December with tweaks to guidance.
  • The inflation outlook is better but still not great, with plenty of signals warranting caution.

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Keywords for: 29 October 2025 UK Monitor

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