MPC

President Trump's tariff policy in the US was unveiled after the MPC's last meeting in March.

Many analysts say inconsistency and uncertainty regarding the policy may push down growth and inflation, leading to expectations of the MPC responding with more interest rate cuts this year.

The MPC has a membership of five women and four men, including economists and leading figures at the Bank of England.

The MPC has made three interest rate cuts since August 2024, bringing it down to its lowest level for 18 months.

Following the MPC meeting in February, the Bank halved its economic growth forecast for this year, although it upgraded its forecasts for 2026 and 2027.