The latest Bank of England news is that the base rate was held at 3.75% at the March 2026 meeting, and the next decision is due on 30 April 2026. The main reason for the hold was higher inflation pressure from rising energy prices tied to Middle East conflict.[3][7]
What it means now
Markets are still expecting some rate cuts later in 2026, but the timing looks less certain than it did earlier this year. The Bank has signaled a cautious, meeting-by-meeting approach rather than a fixed path.[4][7][3]
Recent context
The Bank’s latest update says it has cut rates several times since August 2024, but is now watching inflation closely because energy and commodity prices could keep inflation higher for longer. The official rate history also shows the current 3.75% level after a series of cuts from 5.25% in August 2023.[7][8]
Next date to watch
The key event is the BoE announcement on 30 April 2026 at 12:00 noon UK time, when markets will look for any change in guidance as much as the rate decision itself.[3]
Sources
The Bank of England’s Monetary Policy Committee held interest rates in March. As the Iran war threatens the UK economy, what will happen to interest rates?
moneyweek.comThe base rate is the UK interest rate set by the Bank of England. A change in the base rate may affect your mortgage rate.
www.uswitch.comWar in the Middle East has affected energy prices and means inflation will be higher than expected
www.bankofengland.co.ukThe benchmark interest rate in the United Kingdom was last recorded at 3.75 percent. This page provides - United Kingdom Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
tradingeconomics.comThe Bank of England base rate influences interest rates in the UK, which can impact mortgage and savings rates. The current base rate is 4%.
www.money.co.ukThe Bank of England (BoE) announces its interest rate decisions at the conclusion of its eight scheduled Monetary Policy Committee (MPC) meetings each year. These decisions will determine wether the central bank will raise, lower, or leave the current Bank Rate unchanged. The Bank of England's current main interest rate (Bank Rate) is set at 3.75%. On 19 March 2026, the MPC voted unanimously to keep Bank Rate unchanged at 3.75%. That followed the previous cut in December 2025, when Bank Rate...
equalsmoney.comBank Rate affects other interest rates in the economy – we use this as a tool to keep inflation stable
www.bankofengland.co.ukDate ChangedRate 18 Dec 253.75 07 Aug 254.00 08 May 254.25 06 Feb 254.50 07 Nov 244.75 01 Aug 245.00 03 Aug 235.25 22 Jun 235.00 11 May 234.50 23 Mar 234.25 02 Feb 234.00 15 Dec 223.50
www.bankofengland.co.uk