Rodent outbreaks have plagued European agriculture for centuries, but continue to elude comprehensive explanation. Modelling and empirical work in some cyclic rodent systems suggests that changes in reproductive parameters are partly responsible for observed population dynamics. Using a 17-year time series of Microtus arvalis population abundance and demographic data, we explored the relationship between meteorological conditions (temperature and rainfall), female reproductive activity, and population growth rates in a non-cyclic population of this grassland vole species. We found strong but complex relationships between female reproduction and climate variables, with spring female reproduction depressed after cold winters. Population growth rates were, however, uncorrelated with either weather conditions (current and up to three months prior) or with female reproduction (number of foetuses per female and/or proportion of females reproductively active in the population). These results, coupled with age-structure data, suggest that mortality, via predation, disease, or a combination of the two, are responsible for the large multi-annual but non-cyclic population dynamics observed in this population of the common vole.