The Bank of England voted 8–1 to keep Bank Rate unchanged at 3.75% in April 2026, with one member preferring an increase to 4% and several policymakers indicating they could consider additional rate increases in the future. Policymakers highlighted that the conflict in the Middle East has created significant uncertainty for global energy prices. While monetary policy cannot directly influence them, the Committee aims to ensure any inflationary impact feeds through in a way consistent with the 2% target over the medium term, with outcomes dependent on the scale and duration of the shock and how it spreads through the economy. CPI inflation has risen to 3.3% and is expected to move higher later in the year as energy costs pass through, raising the risk of second round effects in wages and pricing. However, a loosening labour market and weaker growth may help contain inflation pressures, while tighter financial conditions since the conflict began are also expected to dampen demand. source: Bank of England

The benchmark interest rate in the United Kingdom was last recorded at 3.75 percent. Interest Rate in the United Kingdom averaged 7.02 percent from 1971 until 2026, reaching an all time high of 17.00 percent in November of 1979 and a record low of 0.10 percent in March of 2020. This page provides - United Kingdom Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. United Kingdom Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2026.

The benchmark interest rate in the United Kingdom was last recorded at 3.75 percent. Interest Rate in the United Kingdom is expected to be 3.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United Kingdom Interest Rate is projected to trend around 3.50 percent in 2027 and 3.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-04-30 11:00 AM BoE MPC Vote Unchanged 8/9 9/9 8/9 9/9
2026-04-30 11:00 AM BoE MPC Vote Hike 1/9 0/9 1/9 0/9
2026-04-30 11:00 AM BoE Interest Rate Decision 3.75% 3.75% 3.75% 3.75%
2026-06-18 11:00 AM BoE Interest Rate Decision 3.75%
2026-07-30 11:00 AM BoE Interest Rate Decision
2026-09-17 11:00 AM BoE MPC Vote Cut


Related Last Previous Unit Reference
Banks Balance Sheet 4841836.00 4772286.00 GBP Million Mar 2026
Central Bank Balance Sheet 768677.00 791855.00 GBP Million Apr 2026
Deposit Interest Rate 3.50 3.50 percent Apr 2026
Foreign Exchange Reserves 230292.00 236666.00 USD Million Mar 2026
Inflation Rate YoY 3.30 3.00 percent Mar 2026
BoE Interest Rate 3.75 3.75 percent Apr 2026
Lending Rate 4.00 4.00 percent Apr 2026
Loans to Private Sector 2874192.00 2828311.00 GBP Million Dec 2025
Money Supply M0 104316.00 103843.00 GBP Million Mar 2026
Money Supply M1 2300713.00 2281997.00 GBP Million Mar 2026
Money Supply M2 3199976.00 3198023.00 GBP Million Mar 2026
Money Supply M3 3778597.00 3757011.00 GBP Million Mar 2026


United Kingdom Interest Rate
In the United Kingdom, benchmark interest rate is set by the Monetary Policy Committee (MPC). The Bank of England official interest rate is the repo rate. This repo rate applies to open market operations of the Bank of England with a group of counterparties (banks, building societies, securities firms).
Actual Previous Highest Lowest Dates Unit Frequency
3.75 3.75 17.00 0.10 1971 - 2026 percent Daily

News Stream
BoE Holds Rates Amid Iran Risks
The Bank of England voted 8–1 to keep Bank Rate unchanged at 3.75% in April 2026, with one member preferring an increase to 4% and several policymakers indicating they could consider additional rate increases in the future. Policymakers highlighted that the conflict in the Middle East has created significant uncertainty for global energy prices. While monetary policy cannot directly influence them, the Committee aims to ensure any inflationary impact feeds through in a way consistent with the 2% target over the medium term, with outcomes dependent on the scale and duration of the shock and how it spreads through the economy. CPI inflation has risen to 3.3% and is expected to move higher later in the year as energy costs pass through, raising the risk of second round effects in wages and pricing. However, a loosening labour market and weaker growth may help contain inflation pressures, while tighter financial conditions since the conflict began are also expected to dampen demand.
2026-04-30
BoE Seen Holding Rates Amid Iran Risks
The Bank of England is widely expected to keep interest rates unchanged at 3.75%, as policymakers grapple with heightened uncertainty stemming from the ongoing Iran conflict and its inflationary impact. Governor Andrew Bailey and the Monetary Policy Committee are likely to resist any immediate policy shift, instead focusing on scenario analysis to assess how a prolonged energy shock could affect growth, jobs, and price stability. Rising oil and gas costs have disrupted the prior disinflation trend, with evidence mounting that higher input prices are feeding through to consumers. While markets have flirted with pricing in rate hikes, most economists expect a cautious hold, reflecting limited clarity on the duration of the shock and still-fragile labour market conditions. Communication will be key after March’s market volatility, with officials expected to strike a more balanced tone, acknowledging upside inflation risks while avoiding signals that could trigger another sharp repricing.
2026-04-30
BoE Holds Rates at 3.75% as Inflation Risks Rise
The Bank of England unanimously voted to keep the Bank Rate at 3.75% in March 2026, as the conflict in the Middle East has caused a sharp rise in global energy and commodity prices, pushing up household fuel and utility costs and raising business expenses. Prior to this shock, domestic prices and wages had been showing continued disinflation. The MPC is closely monitoring the risk of second-round effects on wages and prices, which could increase the longer energy costs remain high. Recent data showed headline inflation at 0.1% in February, with medium-term pressures largely unchanged. Higher energy prices are expected to push CPI to between 3% and 3.5% over the next few quarters, though a slowdown in economic activity from rising costs could limit second-round effects. The Committee will continue to assess developments in the Middle East and global markets, ready to adjust policy as needed to maintain price stability and support sustainable growth.
2026-03-19