Europe · Business news · Economy · 30 Jul 2026
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At its meeting ending 29 July the Monetary Policy Committee voted 6–3 to keep Bank Rate at 3.75%; the three dissenters wanted a 0.25-point increase to 4%. The Bank said CPI inflation had fallen to 2.6% since the previous meeting but that higher energy prices were still passing through to later in the year. It saw little evidence so far of second-round effects in wages and prices and clear signs of underlying disinflation, while judging that risks to the inflation outlook were tilted to the upside. The committee said it stood ready to act as necessary to keep inflation on track to the 2% target.
Bank Rate feeds directly into the pricing of UK mortgages and business loans. Lenders such as Lloyds, NatWest and Barclays are exposed through net interest margins and deposit costs; housebuilders and listed landlords through mortgage affordability and property yields; and retailers and leisure groups through household spending power. A three-member minority already voting to tighten showed how close the committee was to an increase, a split that was repeated at the 17 September meeting.
Reported by Bank of England — “Bank Rate maintained at 3.75% - July 2026 Monetary Policy Summary and Minutes” ↗ on 30 Jul 2026.
Official series on 30 Jul 2026 or the last day before it, and the latest observation.
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