Although the consensus anticipated a 7-2 vote, the MPC ultimately reached a closer 5-4 split while maintaining steady interest rates. The Bank of England noted "building slack in the labor market" in its commentary, sending a dovish signal that encouraged markets to somewhat accelerate their easing expectations for 2026. Consequently, traders are now pricing in two rate cuts for the year, effectively shifting the timeline for the initial move from June to April.

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