Returns the history of Monetary Policy Committee decisions to change
Bank Rate, derived from the daily Bank Rate series. Each row is one
rate-change event, showing the effective date, the new rate, the
previous rate, and the change in basis points. Holds (meetings where
the rate was unchanged) are not included; for the full meeting-level
record including holds, see boe_mpc_votes().
Usage
boe_mpc_decisions(from = "1997-06-06", to = Sys.Date(), cache = TRUE)Source
Derived from BoE series IUDBEDR (daily Bank Rate). See
https://www.bankofengland.co.uk/monetary-policy.
Value
A boe_tbl data frame with columns:
- date
Date. Effective date of the rate change.
- new_rate_pct
Numeric. Bank Rate after the decision (percent).
- prev_rate_pct
Numeric. Bank Rate before the decision (percent).
- change_bps
Integer. Change in basis points (positive = hike, negative = cut).
- direction
Character.
"hike"or"cut".
See also
boe_bank_rate(), boe_mpc_votes()
Other monetary policy:
boe_mpc_votes(),
boe_mpr_forecasts()
Examples
# \donttest{
op <- options(boe.cache_dir = tempdir())
# All MPC decisions since the global financial crisis
boe_mpc_decisions(from = "2007-01-01")
#> ℹ Downloading from Bank of England
#> ✔ Downloading from Bank of England [1.1s]
#>
#> # BoE [boe_mpc_decisions]: 1 series [IUDBEDR] · 37 obs · 2007-01-01 to 2026-04-26 · freq=decision
#> date new_rate_pct prev_rate_pct change_bps direction
#> 1 2007-01-11 5.25 5.00 25 hike
#> 2 2007-05-10 5.50 5.25 25 hike
#> 3 2007-07-05 5.75 5.50 25 hike
#> 4 2007-12-06 5.50 5.75 -25 cut
#> 5 2008-02-07 5.25 5.50 -25 cut
#> 6 2008-04-10 5.00 5.25 -25 cut
#> 7 2008-10-08 4.50 5.00 -50 cut
#> 8 2008-11-06 3.00 4.50 -150 cut
#> 9 2008-12-04 2.00 3.00 -100 cut
#> 10 2009-01-08 1.50 2.00 -50 cut
#> 11 2009-02-05 1.00 1.50 -50 cut
#> 12 2009-03-05 0.50 1.00 -50 cut
#> 13 2016-08-04 0.25 0.50 -25 cut
#> 14 2017-11-02 0.50 0.25 25 hike
#> 15 2018-08-02 0.75 0.50 25 hike
#> 16 2020-03-11 0.25 0.75 -50 cut
#> 17 2020-03-19 0.10 0.25 -15 cut
#> 18 2021-12-16 0.25 0.10 15 hike
#> 19 2022-02-03 0.50 0.25 25 hike
#> 20 2022-03-17 0.75 0.50 25 hike
#> 21 2022-05-05 1.00 0.75 25 hike
#> 22 2022-06-16 1.25 1.00 25 hike
#> 23 2022-08-04 1.75 1.25 50 hike
#> 24 2022-09-22 2.25 1.75 50 hike
#> 25 2022-11-03 3.00 2.25 75 hike
#> 26 2022-12-15 3.50 3.00 50 hike
#> 27 2023-02-02 4.00 3.50 50 hike
#> 28 2023-03-23 4.25 4.00 25 hike
#> 29 2023-05-11 4.50 4.25 25 hike
#> 30 2023-06-22 5.00 4.50 50 hike
#> 31 2023-08-03 5.25 5.00 25 hike
#> 32 2024-08-01 5.00 5.25 -25 cut
#> 33 2024-11-07 4.75 5.00 -25 cut
#> 34 2025-02-06 4.50 4.75 -25 cut
#> 35 2025-05-08 4.25 4.50 -25 cut
#> 36 2025-08-07 4.00 4.25 -25 cut
#> 37 2025-12-18 3.75 4.00 -25 cut
# Just decisions in 2024 to date
boe_mpc_decisions(from = "2024-01-01")
#> ℹ Downloading from Bank of England
#> ✔ Downloading from Bank of England [397ms]
#>
#> # BoE [boe_mpc_decisions]: 1 series [IUDBEDR] · 6 obs · 2024-01-01 to 2026-04-26 · freq=decision
#> date new_rate_pct prev_rate_pct change_bps direction
#> 1 2024-08-01 5.00 5.25 -25 cut
#> 2 2024-11-07 4.75 5.00 -25 cut
#> 3 2025-02-06 4.50 4.75 -25 cut
#> 4 2025-05-08 4.25 4.50 -25 cut
#> 5 2025-08-07 4.00 4.25 -25 cut
#> 6 2025-12-18 3.75 4.00 -25 cut
options(op)
# }