Bank of England decides to hold interest rates at 3.75%

Please find linked below the April Monetary Policy Summary, minutes of the Monetary Policy Committee meeting ending on Wednesday 29 April 2026, and the Monetary Policy Report.

Monetary Policy Report

Monetary Policy Summary and minutes of the Monetary Policy Committee meeting

Andrew Bailey, Governor of the Bank of England, said: "The war in the Middle East is causing inflation to rise again this year.  We've held Bank Rate unchanged at 3.75%.  We think this is a reasonable place given the situation of the economy and the unpredictability of events in the Middle East. We'll continue to monitor the situation and its impact on the UK economy very closely.  Whatever happens, our job is to make sure that inflation gets back to the 2% target after the initial impact of the war on energy prices has passed."