Bank of England Bank Rate
The official UK policy interest rate set by the Monetary Policy Committee
The Bank Rate is the official policy interest rate set by the Bank of England's Monetary Policy Committee (MPC). It directly influences borrowing costs for mortgages, loans, and savings rates throughout the UK economy.
The MPC meets eight times per year to review economic conditions and set monetary policy. Rate changes take 18-24 months to fully affect the economy, so the MPC must anticipate future inflation trends.
Bank Rate History
Official Bank of England policy interest rate.
Bank Rate vs Inflation
Compare Bank Rate with annual food inflation.
Bank Rate minus food inflation (inflation-adjusted rate).
Source: Bank of England Interactive Database (IADB).
Series ID: IUDBEDR
The Bank Rate is the official policy interest rate set by the Monetary Policy Committee (MPC), which meets eight times per year to review economic conditions and set monetary policy.
MPC decisions are announced at 12:00 GMT on decision days.