When is the next Bank of England base rate meeting?

The Bank of England meets eight times a year to set the base rate, which is the core interest rate for the UK.

The base rate (also called the bank rate) is the rate of interest that the Bank of England charges commercial banks, building societies, and other financial institutions that hold money with, or borrow from, the central bank.

Changes to the base rate therefore have a knock-on effect on mortgages, savings and loans to consumers.

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If the base rate is lowered, you may find your mortgage rate is also cut, or may find your savings account is paying less in interest. The reverse is true if the bank hikes rates.

The base rate is usually adjusted as a way to control inflation in the economy. The central bank typically increases rates when inflation is too high, and eases them when price growth returns closer to the bank’s 2% target.

The Bank of England has been gradually cutting interest rates since the summer of 2024, and most forecasters expect them to continue cutting in 2026, albeit at a slower pace.

The bank’s Monetary Policy Committee (MPC), which sets interest rates, is due to announce its next decision on 19 March.

The MPC last met on 5 February, when it voted to hold interest rates at 3.75%.

Five members voted to hold interest rates and four members voted to cut by 25 basis points.

Bank of England interest rate announcement dates

The MPC meets roughly every six weeks to set the base rate, though extraordinary meetings can be called when needed.

The meetings usually happen the day before the interest rate announcement.

Here is the full list of dates when the MPC interest rate decision will be announced by the Bank of England in 2026:

• 19 March
• 30 April
• 18 June
• 30 July
• 17 September
• 5 November
• 17 December

What is the Bank of England’s Monetary Policy Committee?

The Bank of England’s Monetary Policy Committee is the body that is responsible for setting the bank rate.

The committee is made up of nine members, and is chaired by BoE governor Andrew Bailey.

Five of the members are internal staff, while the remaining four are external experts appointed to make sure the MPC benefits from expertise outside the Bank of England.

During each meeting, the committee votes on whether to cut, hold or raise interest rates.