The Bank Rate was maintained at 4.25 percent at the Monetary Policy Committee (MPC) meeting held on June, 2020. Inflation eased from 2.5 percent in April to 2.4 percent in May 2020, remaining below the lower bound of the Bank’s objective range of 3 – 6 percent. Inflation is forecast to revert to within the objective range in the third quarter of 2021; this is a significant downward revision from the April 2020 forecast.