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Bank of England policy-rate history

United Kingdom's Bank Rate. The page separates the rate's effective date, source coverage, successful retrieval time and official decision evidence.

Updated Bank Rate effective 18 Dec 2025

Official BoE siteMethodology

Bank Rate

3.75%

Direct source observation

Previous observation

4.00%

Effective 7 Aug 2025

Last verified change

-0.25 pp (-25 bp)

cut effective 18 Dec 2025

Next meeting

5 Nov 2026

Scheduled monetary policy decision

Latest data: Sep 24, 2026 · This update may be older than usual.

Rate effective 18 Dec 2025 (Source observation date). Currency: GBP.

Source observations run through 24 Sept 2026. This coverage date may precede the effective date or retrieval time.

Previous 12 months

Complete twelve-month coverage is available. Counts include verified transitions in the available period.

Verified changes

1

0 hikes · 1 cuts · 0 source-confirmed holds

Net rate change

-0.25 pp (-25 bp)

Year-over-year difference -0.25 pp (-25 bp)

Highest observed rate

4.00%

7 Aug 2025

Lowest observed rate

3.75%

18 Dec 2025

Days since last change

284

Based on a verified rate transition

Meeting time zone: Europe/London. Calendar last verified 25 Sept 2026, 13:49 UTC. Bank of England MPC dates

Meeting-calendar updates are temporarily paused. The date shown may not include a recent official revision.

Policy-rate history

Historical observations use the published instrument and source dates shown below. Coverage begins 3 Aug 2006.

Bank of England policy-rate historyObservations from 2 Nov 2017 to 18 Dec 2025. The line uses Bank Rate in basis points, spaces points by UTC effective date and holds each rate until the next observation.2 Nov 201718 Dec 2025
Time follows actual effective dates; steps hold the published policy instrument to the next observation, in basis points.
Dated official policy-rate observations for Bank of England
Effective dateDate basisPublished rateObserved throughRetrievedSourceStatus
18 Dec 2025Source observation date3.75%24 Sept 202628 Sept 2026, 03:34 UTCBank of EnglandDirect source
7 Aug 2025Source observation date4.00%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
8 May 2025Source observation date4.25%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
6 Feb 2025Source observation date4.50%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
7 Nov 2024Source observation date4.75%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
1 Aug 2024Source observation date5.00%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
3 Aug 2023Source observation date5.25%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
22 Jun 2023Source observation date5.00%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
11 May 2023Source observation date4.50%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
23 Mar 2023Source observation date4.25%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
2 Feb 2023Source observation date4.00%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
15 Dec 2022Source observation date3.50%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
3 Nov 2022Source observation date3.00%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
22 Sept 2022Source observation date2.25%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
4 Aug 2022Source observation date1.75%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
16 Jun 2022Source observation date1.25%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
5 May 2022Source observation date1.00%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
17 Mar 2022Source observation date0.75%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
3 Feb 2022Source observation date0.50%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
16 Dec 2021Source observation date0.25%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
19 Mar 2020Source observation date0.10%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
11 Mar 2020Source observation date0.25%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
2 Aug 2018Source observation date0.75%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source
2 Nov 2017Source observation date0.50%Unavailable28 Sept 2026, 03:34 UTCBank of EnglandDirect source

Policy changes

Decision labels identify whether the source stated the outcome or the rate history implies a transition.

Dated central-bank policy changes and official source links
EffectiveDecisionPreviousNew rateChangeEvidenceSource
18 Dec 2025cut4.00%3.75%-0.25 pp (-25 bp)Historical comparisonBank of England
7 Aug 2025cut4.25%4.00%-0.25 pp (-25 bp)Historical comparisonBank of England
8 May 2025cut4.50%4.25%-0.25 pp (-25 bp)Historical comparisonBank of England
6 Feb 2025cut4.75%4.50%-0.25 pp (-25 bp)Historical comparisonBank of England
7 Nov 2024cut5.00%4.75%-0.25 pp (-25 bp)Historical comparisonBank of England
1 Aug 2024cut5.25%5.00%-0.25 pp (-25 bp)Historical comparisonBank of England
3 Aug 2023hike5.00%5.25%+0.25 pp (+25 bp)Historical comparisonBank of England
22 Jun 2023hike4.50%5.00%+0.50 pp (+50 bp)Historical comparisonBank of England
11 May 2023hike4.25%4.50%+0.25 pp (+25 bp)Historical comparisonBank of England
23 Mar 2023hike4.00%4.25%+0.25 pp (+25 bp)Historical comparisonBank of England
2 Feb 2023hike3.50%4.00%+0.50 pp (+50 bp)Historical comparisonBank of England
15 Dec 2022hike3.00%3.50%+0.50 pp (+50 bp)Historical comparisonBank of England
3 Nov 2022hike2.25%3.00%+0.75 pp (+75 bp)Historical comparisonBank of England
22 Sept 2022hike1.75%2.25%+0.50 pp (+50 bp)Historical comparisonBank of England
4 Aug 2022hike1.25%1.75%+0.50 pp (+50 bp)Historical comparisonBank of England
16 Jun 2022hike1.00%1.25%+0.25 pp (+25 bp)Historical comparisonBank of England
5 May 2022hike0.75%1.00%+0.25 pp (+25 bp)Historical comparisonBank of England
17 Mar 2022hike0.50%0.75%+0.25 pp (+25 bp)Historical comparisonBank of England
3 Feb 2022hike0.25%0.50%+0.25 pp (+25 bp)Historical comparisonBank of England
16 Dec 2021hike0.10%0.25%+0.15 pp (+15 bp)Historical comparisonBank of England
19 Mar 2020cut0.25%0.10%-0.15 pp (-15 bp)Historical comparisonBank of England
11 Mar 2020cut0.75%0.25%-0.50 pp (-50 bp)Historical comparisonBank of England
2 Aug 2018hike0.50%0.75%+0.25 pp (+25 bp)Historical comparisonBank of England

Data basis: Official MPC Bank Rate. Comparison series: BIS central-bank policy rate series where direct historical coverage is unavailable..

BoE policy-rate history | Squawkdeck