Monex: Bank of England's pace of interest rate cuts remains unchanged. Voting differences have limited impact on future actions.

Nick Rees, head of macroeconomic research at Monex, said that the Bank of England appears to still be sticking to the pace of cutting interest rates once per quarter. Although some commentary has begun to downplay Bailey's initial proposed speed of rate cuts, it still seems to be their plan, even though it may not be an official statement. The biggest highlight of this meeting was the 6-3 vote split. This is seen as dovish in the market consensus, and the market will interpret signals from it, but I believe this will have limited impact on the specific actions of the Bank of England in the future.