Bank of England

Interest rates and Bank Rate

Reuters

Lagarde Comments Ecb Press Conference 2026 02 05

julianHjessop

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Institute of Economic Affairs

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European Central Bank

Monetary policy statement

Europa

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EuroNews

Daily Sabah

ECB, BoE keep rates steady with another knife-edge vote in London

Bank Rate maintained at 3.75% - February 2026 Monetary Policy Summary and Minutes

Monetary policy decisions

Guido Fawkes

Bank of England Holds Interest Rates at 3.75%

PolitlcsUK

GB News

Bank of England holds base rate at 3.75% amid inflation concerns as economy enters 'delicate phase'

Financial Times

Bank of England holds rates steady at 3.75% in knife-edge vote

Guardian

Bank of England keeps interest rates at 3.75% as inflation concerns persist

Monetary Policy Report - February 2026

Metaculus

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The Bank of England's Monetary Policy Committee voted 5-4 to maintain the base interest rate at 3.75% on Thursday, with four members preferring a 0.25 percentage point reduction to 3.5%. Meanwhile, the European Central Bank also held its deposit facility rate unchanged at 2.00% on the same day.

The Bank of England's Monetary Policy Committee voted 5-4 to maintain the base interest rate at 3.75% on Thursday, with four members preferring a 0.25 percentage point reduction to 3.5%. Meanwhile, the European Central Bank also held its deposit facility rate unchanged at 2.00% on the same day.

The Bank of England projects U.K. inflation will fall to around 2% by spring 2026, earlier than the 2027 timeline forecast in November 2025, largely due to energy price developments including measures from Budget 2025. The European Central Bank confirmed eurozone inflation fell to 1.7% in January 2026.

The Bank of England projects U.K. inflation will fall to around 2% by spring 2026, earlier than the 2027 timeline forecast in November 2025, largely due to energy price developments including measures from Budget 2025. The European Central Bank confirmed eurozone inflation fell to 1.7% in January 2026.

The Bank of England downgraded its U.K. gross domestic product (GDP) growth forecast for 2026 from 1.2% to 0.9% and raised its unemployment rate projection to peak at 5.3%, up from the previously expected 5.1%. The ECB noted the euro area economy "remain[ed] resilient in a challenging global environment," having grown by 1.5% in 2025.

The Bank of England downgraded its U.K. gross domestic product (GDP) growth forecast for 2026 from 1.2% to 0.9% and raised its unemployment rate projection to peak at 5.3%, up from the previously expected 5.1%. The ECB noted the euro area economy "remain[ed] resilient in a challenging global environment," having grown by 1.5% in 2025.

Bank of England Governor Andrew Bailey stated there would be scope for further rate cuts in 2026 if the economy evolves as expected, though he emphasized judgements around further easing will become a closer call. ECB President Christine Lagarde cited ongoing global trade policy uncertainty while claiming underlying inflation indicators had seen little recent change.

Bank of England Governor Andrew Bailey stated there would be scope for further rate cuts in 2026 if the economy evolves as expected, though he emphasized judgements around further easing will become a closer call. ECB President Christine Lagarde cited ongoing global trade policy uncertainty while claiming underlying inflation indicators had seen little recent change.

The Bank of England's Agents' pay survey indicates U.K. private sector pay settlements will average 3.4% in 2026, down from 4.0% in 2025, which policymakers consider close to target-consistent levels. The ECB noted negotiated wage growth indicators point to continued moderation in eurozone labor costs.

The Bank of England's Agents' pay survey indicates U.K. private sector pay settlements will average 3.4% in 2026, down from 4.0% in 2025, which policymakers consider close to target-consistent levels. The ECB noted negotiated wage growth indicators point to continued moderation in eurozone labor costs.

Financial markets increased bets on a Bank of England rate cut in March 2026 to nearly 50% following the February decision, while the pound weakened 0.6% against the dollar. The euro remained steady around 1.18 against the dollar after the ECB's decision, with eurozone equities edging higher.

Financial markets increased bets on a Bank of England rate cut in March 2026 to nearly 50% following the February decision, while the pound weakened 0.6% against the dollar. The euro remained steady around 1.18 against the dollar after the ECB's decision, with eurozone equities edging higher.

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Keeping interest rates steady makes sense as inflation stabilizes near the 2% target and the economy shows resilience despite global uncertainty. The labor market remains solid with low unemployment, and past rate cuts are already supporting growth through consumption and investment. A data-dependent approach allows policymakers to carefully balance risks without pre-committing to any particular path, ensuring inflation stays anchored while economic momentum builds gradually.

Keeping interest rates steady makes sense as inflation stabilizes near the 2% target and the economy shows resilience despite global uncertainty. The labor market remains solid with low unemployment, and past rate cuts are already supporting growth through consumption and investment. A data-dependent approach allows policymakers to carefully balance risks without pre-committing to any particular path, ensuring inflation stays anchored while economic momentum builds gradually.

Holding rates reflects troubling economic weakness rather than inflation success. Growth forecasts have been downgraded significantly below official budget assumptions, unemployment keeps rising, and business confidence remains fragile. Government policies on taxes, energy and labor markets have kept UK inflation stubbornly high compared to other nations, preventing faster rate cuts that struggling businesses desperately need to avoid further job losses and stagnation.

Holding rates reflects troubling economic weakness rather than inflation success. Growth forecasts have been downgraded significantly below official budget assumptions, unemployment keeps rising, and business confidence remains fragile. Government policies on taxes, energy and labor markets have kept UK inflation stubbornly high compared to other nations, preventing faster rate cuts that struggling businesses desperately need to avoid further job losses and stagnation.

European Central Bank and Bank of England Both Keep Interest Rates Steady

European Central Bank and Bank of England Both Keep Interest Rates Steady

Economic conditions & trends

United Kingdom

Europe

The European Central Bank's decision to hold rates steady reflects a resilient eurozone economy underpinned by solid fundamentals. Low unemployment, strong private sector balance sheets and supportive fiscal spending on defense and infrastructure are driving growth despite global headwinds. Inflation has declined to 1.7% in January, below the 2% target, with indicators of underlying inflation consistent with medium-term price stability.

The European Central Bank's decision to hold rates steady reflects a resilient eurozone economy underpinned by solid fundamentals. Low unemployment, strong private sector balance sheets and supportive fiscal spending on defense and infrastructure are driving growth despite global headwinds. Inflation has declined to 1.7% in January, below the 2% target, with indicators of underlying inflation consistent with medium-term price stability.

Britain's economic outlook remains deeply concerning as the Bank of England struggles with persistent inflation driven by government policy failures on tax, energy and labor markets. GDP forecasts have been slashed to just 0.9% for 2026 while unemployment continues rising, revealing an economy trapped between stubborn price pressures and weakening growth that prevents the rate cuts other nations enjoy.

Britain's economic outlook remains deeply concerning as the Bank of England struggles with persistent inflation driven by government policy failures on tax, energy and labor markets. GDP forecasts have been slashed to just 0.9% for 2026 while unemployment continues rising, revealing an economy trapped between stubborn price pressures and weakening growth that prevents the rate cuts other nations enjoy.

European Central Bank and Bank of England Both Keep Interest Rates Steady

European Central Bank and Bank of England Both Keep Interest Rates Steady

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European Central Bank and Bank of England Both Keep Interest Rates Steady

European Central Bank and Bank of England Both Keep Interest Rates Steady

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