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Bank of England

GBP · Official Website

Latest Statement

⚖️ Neutral

Monetary Policy Summary and minutes of the Monetary Policy Committee meeting - June 2026 (to be published at 12pm) | Bank of England

2026-06-01

The Bank of England's Monetary Policy Committee has decided to maintain the Bank Rate at 3.75% as of June 2026, reflecting a cautious approach amid ongoing economic uncertainties. The committee continues to monitor inflation and economic growth closely, signaling readiness to adjust policy as necessary.

The Bank Rate remains unchanged at 3.75% for the fourth consecutive meeting.
The committee emphasizes the importance of monitoring inflation trends and economic conditions.
There is a commitment to adjusting monetary policy if economic indicators warrant such action.
The decision reflects a balanced approach to supporting economic growth while managing inflation risks.

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	1.3209
GDP Growth	2.2%
M2 Growth	3.8%
10Y Yield	4.97%
2y10y Spread	+0.84%

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	69.56 USD/barrel	+1.3%	-34.9%
Natural Gas (EU)	15.90 USD/MMBtu	+3.3%	+16.0%

Recent Statements

Monetary Policy Summary and minutes of the Monetary Policy Committee meeting - March 2026 ⚖️ Neutral

2026-03-01

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

2026-02-01

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

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