MorganAsh comments on BoE MPC decision

18 September 2025

Andrew Gething, managing director of MorganAsh, said:

“While the inflation news yesterday will have caught many by surprise, today’s call to hold the base rate was still the most likely outcome. Inflation is performing within the central bank’s forecast, but that doesn’t negate the fact that it is almost double target. While stimulating economic growth is a priority, as evidenced by last month’s cut, the central bank clearly hasn’t forgotten its commitment to subduing inflation.

“Across the country, households are feeling the persistent financial burden of high interest rates and high inflation – particularly at the supermarket. With significant pressures at home and abroad, it is still unclear when the picture is likely to improve. As a result, firms absolutely need to stay close to clients and prioritise early intervention – particularly for clients in difficulty or with characteristics of vulnerability. What remains clear though is that many firms still cannot do this because they don’t know who these customers are, what challenges they face or the outcomes they receive.

“Robust data and processes are absolutely essential to overcoming these challenges, especially as the evidence continues to point to consumers increasingly dealing with multiple, compounding vulnerabilities. This can only amplify the risks they face and the support they need. Firms cannot focus on financial vulnerability in isolation and must take the client’s full circumstances into account.”