BOE Rate Setters Head North for Historic Rate Decisions in Leeds

The Bank of England (BOE) is shaking things up by splitting its rate-setting duties between London and Leeds. This marks a significant change in the BOE's 332-year history, with the Monetary Policy Committee (MPC) members traveling north to the West Yorkshire city for their decisions.

This shift comes into effect from next year, and the first MPC meeting in Leeds may take place as early as December or coincide with the March 18 vote. The decision to split the duties was made in line with the prevailing political mood, allowing for a new phase of collaboration between London and Yorkshire.