Bank of England Base Rate
The rate that moves every halal mortgage and savings profit rate in the UK — current level, next decision date, and the full history.
Why we track this. The Bank of England's base rate is the single biggest driver of how halal mortgage and savings profit rates move in the UK. Islamic providers don't charge interest, but the profit rates on products like diminishing musharakah home purchase plans or fixed-term savings are commonly benchmarked against the same market reference rates conventional lenders use — so when the base rate moves, halal rates usually follow within weeks. We fold this into our rate check schedule alongside individual provider checks.
2026 MPC meeting calendar
The Monetary Policy Committee meets 8 times a year, roughly every six weeks. Announcements land at 12:00 noon UK time on the Thursday shown.
| Meeting | Outcome |
|---|---|
| Thu 5 Feb 2026 | Held at 3.75% |
| Thu 19 Mar 2026 | Held at 3.75% (unanimous, 9–0) |
| Thu 30 Apr 2026 | Held at 3.75% (8–1) |
| Thu 18 Jun 2026 | Held at 3.75% (7–2) |
| Thu 30 Jul 2026 | Held at 3.75% (6–3) |
| Thu 17 Sep 2026 | Next decision — Scheduled |
| Thu 5 Nov 2026 | Scheduled — with Monetary Policy Report |
| Thu 17 Dec 2026 | Scheduled |
Source: Bank of England Monetary Policy Summary and minutes. Vote splits and outcomes for future meetings are unknown until the day.
Historical base rate
| Date changed | Rate |
|---|---|
| 18 Dec 2025 | 3.75% |
| 7 Aug 2025 | 4.00% |
| 8 May 2025 | 4.25% |
| 6 Feb 2025 | 4.50% |
| 7 Nov 2024 | 4.75% |
| 1 Aug 2024 | 5.00% |
| 3 Aug 2023 | 5.25% (peak, post-2008) |
| 16 Dec 2021 | 0.25% (start of hiking cycle) |
| 19 Mar 2020 | 0.10% (all-time low) |
Selected key dates from the Bank of England's official Bank Rate history. Full dataset back to 1975 on bankofengland.co.uk ↗
Nobody can reliably predict where this goes next. Economists' 2026 forecasts for the base rate span a wide range, and market pricing shifts with every inflation release, energy price move and MPC vote split. Treat any "prediction" — including ones on this page — as a scenario, not a certainty. If a fixed-term product's pricing matters to your decision, compare what's actually on offer today rather than waiting for a rate you're expecting.
This page reflects the Bank of England's published Bank Rate and MPC calendar as of our last check. It is not investment or financial advice. Always confirm current terms directly with your provider.