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Bank of England

GBP · Official Website

Latest Statement

⚖️ Neutral

Bank Rate maintained at 3.75% - July 2026 Monetary Policy Summary and Minutes

2026-07-30

The Bank of England has decided to maintain the Bank Rate at 3.75% amid ongoing uncertainty in the economy due to volatile energy prices stemming from conflicts in the Middle East. While inflation has decreased to 2.6%, the Committee remains vigilant about potential upward pressures on inflation and is prepared to adjust policy as necessary to achieve the 2% target sustainably.

The Monetary Policy Committee voted 6-3 to keep the Bank Rate at 3.75%, with some members advocating for a rate increase.
CPI inflation has fallen to 2.6%, but is expected to rise later this year due to higher energy prices.
The Committee acknowledges the risks of second-round effects on inflation but sees signs of underlying disinflation.
The Bank is prepared to act as necessary to ensure inflation remains on track to meet the 2% target in the medium term.

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	5.08%
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	88.24 USD/barrel	-4.8%	+5.4%
Natural Gas (EU)	17.93 USD/MMBtu	+18.8%	+88.1%

Recent Statements

Bank Rate maintained at 3.75% - June 2026 Monetary Policy Summary and Minutes | Bank of England ⚖️ Neutral

2026-06-18

Bank Rate maintained at 3.75% - April 2026 Monetary Policy Summary and Minutes ⚖️ Neutral

2026-04-30

Bank Rate maintained at 3.75% - March 2026 Monetary Policy Summary and Minutes ⚖️ Neutral

2026-03-19

Bank Rate maintained at 3.75% - February 2026 Monetary Policy Summary and Minutes | Bank of England ⚖️ Neutral

2026-02-05

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