Bank of England's Monetary Policy Committee keeps Bank Rate at 3.75 per cent

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Bank of England's Monetary Policy Committee keeps Bank Rate at 3.75 per cent

17 September 2026

The Monetary Policy Committee (MPC) of the Bank of England voted to keep Bank Rate at 3.75 per cent. The meeting ended on 16 September 2026 and the decision was published the next day. The vote was 6-3. The six who wanted no change were Governor Andrew Bailey, Sarah Breeden, Swati Dhingra, Clare Lombardelli, Dave Ramsden and Alan Taylor. Megan Greene, Catherine L Mann and Huw Pill wanted a rise of 0.25 percentage points, to 4 per cent. Bank Rate is the core interest rate in the United Kingdom: the Bank pays it on money that commercial banks keep with it and charges it on loans to them, so their own savings and lending rates move with it. The MPC meets eight times a year and works to a 2 per cent inflation target.

Bank Rate: 3.75 per cent Vote: 6-3 to hold Governor: Andrew Bailey MPC meetings a year: 8 Inflation target: 2 per cent

Why it matters for exams: Bank Rate, the Bank of England's policy interest rate, stands at 3.75 per cent after a 6-3 Monetary Policy Committee vote; Andrew Bailey is the Governor.

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17 September 2026 Source: Bank of England

In plain words

MPC Monetary Policy Committee — The Bank of England committee that sets Bank Rate.

Bank Rate Bank Rate — The core interest rate in the United Kingdom, set by the MPC.