What is the Bank of England base rate today?
Last reviewed:
In short: 4.25%, after the Bank's Monetary Policy Committee held rates at the May 2026 meeting.
The Bank of England Bank Rate — the official interest rate it pays on commercial bank reserves — is currently 4.25%. The Monetary Policy Committee held the rate at its May 2026 meeting after two earlier 0.25% cuts in 2026.
The Bank Rate influences the rates banks charge each other and, in turn, the rates you pay on tracker mortgages and earn on variable savings. Fixed mortgage and savings rates are influenced more by expectations of future Bank Rate changes (the 'swap' rates).
The next decision is published on the third Thursday of the relevant month. Decisions and meeting minutes are free to read on the Bank of England's website.
Primary source: bankofengland.co.uk/monetary-policy