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Bank of England

GBP · Official Website

Latest Statement

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Monetary Policy Summary and minutes of the Monetary Policy Committee meeting - February 2026

2026-02-01

The Bank of England's Monetary Policy Committee is set to release its summary and minutes from the February 2026 meeting, indicating ongoing discussions regarding the current economic conditions and the implications for monetary policy. The recent reduction of the Bank Rate to 3.75% in December 2025 reflects a response to economic challenges.

The Bank Rate was reduced to 3.75% in December 2025, indicating a shift towards more accommodative monetary policy.
The upcoming publication will provide insights into the Committee's deliberations and future policy direction.
The focus remains on balancing inflation control with economic growth amidst ongoing uncertainties.

Bank Profile

Mandate

Price stability (2% CPI) and subject to that, support growth/employment

Decision Types

Bank Rate, Quantitative easing (Asset Purchase Facility), Forward guidance

Policy Instruments

Bank Rate, Asset Purchase Facility (APF), Term Funding Scheme, Countercyclical capital buffer

Target Indicators

CPI inflation (2%), GDP growth, Unemployment, Wage growth

Communication Style

Transparent vote splits, inflation projections with fan charts, minutes published with decision

Committee

Monetary Policy Committee (MPC) - 9 members (Governor, 4 internal, 4 external)

Economic Indicators

Policy Rate	3.75%
GBP/USD	1.3523
GDP Growth	2.2%
M2 Growth	3.8%
10Y Yield	4.42%
2y10y Spread	+0.94%

HISTORICAL TRENDS

Policy Rate

FX Rate

CPI

GDP

10Y Yield

2Y-10Y Spread

Stance

Key Commodities

Top traded commodities for United Kingdom

Commodity	Price	1D	30D
Brent Crude Oil	71.90 USD/barrel	-1.2%	+9.9%
Natural Gas (EU)	11.99 USD/MMBtu	+26.7%	+24.8%

Recent Statements

Bank Rate reduced to 3.75% - December 2025 Monetary Policy Summary and Minutes | Bank of England 🕊️ Dovish

2025-12-01

⚡ Rate

↑0 ↓3 →0

🔮 Guidance

↑3 ↓5

📝 Classified Sentences

🔮 Guidance Hawkishmp_inflation

"I remain concerned the disinflation process has slowed and may stall further."

🔮 Guidance Hawkishmp_inflation

"I continue to judge the risk of inflation stabilising at above-target levels owing to structural changes in price and wage-setting behaviour as greater than the risk of inflation undershooting the target owing to weak demand."

🔮 Guidance Hawkishmp_interest_rate

"This warrants a more cautious cadence of easing."

⚡ Rate Cutmp_interest_rate

"Bank Rate reduced to 3.75% - December 2025 Monetary Policy Summary and Minutes"

⚡ Rate Cutmp_interest_rate

"At its meeting ending on 17 December 2025, the Monetary Policy Committee voted by a majority of 5–4 to reduce Bank Rate by 0.25 percentage points, to 3.75%."

+6 more sentences

Bank Rate maintained at 4% - November 2025 Monetary Policy Summary and Minutes | Bank of England 🕊️ Dovish

2025-11-01

⚡ Rate

↑0 ↓2 →2

🔮 Guidance

↑0 ↓3

🗣 Dissent

↑0 ↓1

📝 Classified Sentences

⚡ Rate Cutmp_interest_rate

"Four members voted to reduce Bank Rate by 0.25 percentage points, to 3.75%."

🔮 Guidance Dovishmp_interest_rate

"If progress on disinflation continues, Bank Rate is likely to continue on a gradual downward path."

⚡ Rate Cutmp_interest_rate

"Four members preferred a 0.25 percentage point reduction in Bank Rate at this meeting."

🗣 Dissent Dovishmp_interest_rate

"Four members voted against this proposition, preferring to reduce Bank Rate by 0.25 percentage points, to 3.75%."

🔮 Guidance Dovishmp_interest_rate

"I judge that our policy stance continues to be restrictive and, based on my outlook, expect that a gradual removal of policy restraint will remain appropriate."

+3 more sentences

Bank Rate maintained at 4% - September 2025 | Bank of England 🦅 Hawkish

2025-09-01

⚡ Rate

↑0 ↓0 →2

🗣 Dissent

↑2 ↓4

💧 QE/QT

↑3 ↓0

📝 Classified Sentences

💧 Liquidity Tightmp_interest_rate

"The Committee voted by a majority of 7–2 to reduce the stock of UK government bond purchases held for monetary policy purposes, and financed by the issuance of central bank reserves, by £70 billion over the next 12 months, to a total of £488 billion."

💧 Liquidity Tightmp_economic_activity

"At its September 2025 meeting, the Committee considered the case for the Bank to reduce the stock of UK government bond purchases held for monetary policy purposes by £70 billion from October 2025 to September 2026, of which £21 billion would be through gilt sales."

🗣 Dissent Hawkishmp_economic_activity

"One member preferred to maintain the pace of QT at £100 billion over the coming year to provide continuity and consistency in the MPC’s approach."

🗣 Dissent Hawkishmp_economic_activity

"One member preferred a stock reduction of £100 billion."

💧 Liquidity Tightmp_economic_activity

"At this meeting, the MPC had voted to reduce the stock of UK government bond purchases held for monetary policy purposes by £70 billion over the 12-month period from October 2025 to September 2026."

+6 more sentences

Bank Rate reduced to 4% - August 2025 | Bank of England 🕊️ Dovish

2025-08-01

⚡ Rate

↑0 ↓1 →0

📝 Classified Sentences

⚡ Rate Cutmp_interest_rate

"At its meeting ending on 6 August 2025, the MPC voted by a majority of 5–4 to reduce Bank Rate by 0.25 percentage points, to 4%, rather than maintaining it at 4.25%."

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