Current Bank of England Bank Rate and upcoming MPC meeting dates.
| Meeting | Decision | Bank Rate |
|---|---|---|
| Feb 5* | Maintained5–4 | 3.75 % |
| Mar 19 | Maintained9–0 | 3.75 % |
| Apr 30* | Maintained8–1 | 3.75 % |
| Jun 18 | Maintained7–2 | 3.75 % |
| Jul 30* | Next | — |
| Sep 17 | — | — |
| Nov 5* | — | — |
| Dec 17 | — | — |
* = Monetary Policy Report (the BoE's quarterly forecasts) released at this meeting
Every Bank of England decision ripples through UK and global markets. The MPC's nine members vote on Bank Rate, and each move reshapes the pound, the FTSE and gilts. A rate cut lowers borrowing costs and typically lifts equities while weakening sterling; a hike does the opposite. Even an unchanged decision can move markets sharply if the vote split or the Governor's press conference shifts the outlook. Meetings marked * also release the Monetary Policy Report, the BoE's quarterly forecasts, which often drive the largest moves.
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FREE TRIAL →The Bank of England (BoE) is the United Kingdom’s central bank. Interest rates are set by its Monetary Policy Committee (MPC), made up of nine members: the Governor, three Deputy Governors, the Bank’s Chief Economist and four external members. The MPC meets eight times a year to set Bank Rate, with the aim of keeping inflation at the 2% target.
Bank Rate is currently 3.75%. The MPC has held it there throughout 2026, most recently at its June meeting (decision announced 18 June). Bank Rate is the single official interest rate the BoE sets; it is the rate paid on reserves held by commercial banks, and it steers all other interest rates in the UK economy.
The decision is published at 12:00 noon UK time on a Thursday, eight times a year, alongside the meeting minutes. On the four meetings that coincide with a Monetary Policy Report, the Governor also holds a press conference shortly after, which often moves the pound more than the decision itself.
A basis point is one hundredth of a percentage point: 1 bps = 0.01%. When the MPC changes Bank Rate by 25 bps, it moves by 0.25%. The MPC normally moves in 25 bps steps, but can act by more in exceptional circumstances.
Four times a year (February, April, July and November), the BoE publishes its Monetary Policy Report: the MPC’s quarterly forecasts for growth and inflation, and the clearest guide to the likely path of Bank Rate. Meetings marked with a * in this calendar include such a release and often trigger the largest market moves.
Bank Rate anchors UK money-market rates and feeds through to mortgages, savings and the cost of borrowing across the economy. A rate cut lowers funding costs and typically lifts equities while weakening sterling; a hike does the opposite. The pound (GBP/USD and EUR/GBP), the FTSE 100 and gilt yields are the most sensitive to MPC decisions.
Yes. Each Monetary Policy Summary gives the vote tally and the direction of any dissent. The June 2026 decision to hold was a 7-2 vote, with two members preferring a hike to 4.00%. Earlier in the year the split ran the other way: in February, four members wanted a cut. The balance of the vote is a useful gauge of how close the next move may be.
To understand what happens on the charts when these decisions land, and how to manage the risk around them, see our guide to trading central bank decisions.
