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<h2>Monetary Policy Summary, May 2022</h2> <p>The MPC sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on 4 May 2022, the MPC voted by a majority of 6-3 to increase Bank Rate by 0.25 percentage points, to 1%. Those members in the minority preferred to increase Bank Rate by 0.5 percentage points, to 1.25%.</p>

VoxEU -- The Russia/Ukraine conflict has sent shockwaves throughout the world economy. Commodity prices, including energy, have increased sharply as uncertainty about supply disruptions has grown (Bachmann et al. 2022, Chepeliev et al. 2022). In addition, sanctions and trade restrictions have been imposed on Russian banks, businesses, and individuals (Berner et al. 2022). Finally, theVoxEU -- The Russia/Ukraine conflict has sent shockwaves throughout the world economy. Commodity prices, including energy, have increased sharply as uncertainty about supply disruptions has grown (Bachmann et al. ...

The war in Ukraine has led to an increase in economic uncertainty. This column reviews developments in a number of forward-looking measures of uncertainty that are available in close to real time. Daily measures of uncertainty have increased, but by much less than during the Covid-19 pandemic. Measures of subjective uncertainty derived from firm surveys have also increased,

<h2><span style="font-size: small;">Monetary Policy Summary, March 2022</span></h2> <p><span style="font-size: small;">The Bank of England condemns Russia&rsquo;s unprovoked invasion and the suffering inflicted on Ukraine. The Bank is working closely with the UK Government to support its response in coordination with international authorities. The Bank&rsquo;s Monetary Policy Committee (MPC) supports this condemnation and welcomes these actions.</span></p>

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