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Bank of England Interest Rate Decision
The MPC sets the Bank Rate. The next decision is on Thursday, November 5, 2026 at 12:00 PM London.
BoE interest rate decision on Nov 5, 2026
Bank of England · Monetary Policy Committee (MPC)
- London
- Thu, Nov 5 · 12:00 PM London
- New York
- Thu, Nov 5 · 7:00 AM EST
- London
- Thu, Nov 5 · 12:00 PM London
- UTC
- Thu, Nov 5 · 12:00 PM UTC
- Your time
- 12:00 PM UTC
- Press conference
- None listed
- Projections
- Yes, with new projections
- Expected
- No consensus yet
Where to look, not a promise: most days one of the two plays and some days neither does. Levels from real 15-minute candles.
How GBP/USD reacts to the BoE decision
Measured on one-minute candles, every decision since January 2025, the same way each time. How we measure.
In 8 of 14 measured BoE decisions the first spike closed back inside the hour-before range within 60 minutes, and in 5 of those price then took the other side within four hours. In the other 6 (43%) the first move held. The median move in the first 15 minutes was 29 pips.
| Date | Decision | Against expected | Hour before | First side | Closed back | After 60 min |
|---|---|---|---|---|---|---|
| Sep 17, 2026 | ■ hold 3.75% | as expected | 12 pips | ▼ 44 pips | No | −35 pips |
| Jul 30, 2026 | ■ hold 3.75% | as expected | 31 pips | ▼ 2.5 pips | 25 min | −1.9 pips |
| Jun 18, 2026 | ■ hold 3.75% | as expected | 15 pips | ▼ 20 pips | No | −17 pips |
| Apr 30, 2026 | ■ hold 3.75% | as expected | 36 pips | ▲ 2.6 pips | 5 min | −12 pips |
| Mar 19, 2026 | ■ hold 3.75% | as expected | 22 pips | ▲ 16 pips | 5 min | +6.9 pips |
| Feb 5, 2026 | ■ hold 3.75% | as expected | 34 pips | ▼ 41 pips | 60 min | −30 pips |
| Dec 18, 2025 | ▼ cut 3.75% | as expected | 8.8 pips | ▲ 39 pips | No | +42 pips |
| Nov 6, 2025 | ■ hold 4.00% | as expected | 18 pips | ▼ 18 pips | 25 min | +8.7 pips |
| Sep 18, 2025 | ■ hold 4.00% | as expected | 12 pips | ▲ 6.7 pips | 5 min | −28 pips |
| Aug 7, 2025 | ▼ cut 4.00% | as expected | 14 pips | ▲ 52 pips | No | +36 pips |
| Jun 19, 2025 | ■ hold 4.25% | as expected | 20 pips | ▼ 16 pips | 25 min | +21 pips |
| May 8, 2025 | ▼ cut 4.25% | as expected | 46 pips | ▲ 37 pips | No | +82 pips |
| Mar 20, 2025 | ■ hold 4.50% | as expected | 18 pips | ▲ 15 pips | 25 min | −2.6 pips |
| Feb 6, 2025 | ▼ cut 4.50% | as expected | 14 pips | ▼ 55 pips | No | −47 pips |
Counts include the decisions where the first spike did not close back. Up and down are the pair GBP/USD. Past reactions describe what happened; they are not a forecast.
BoE rate decisions since 2024
Every BoE decision on the Bank Rate since 2024, newest first. Between 3.75% and 5.25% over the period. The full BoE rate history since 2008 has every decision, the cycles and a CSV.
| Date | Decision | Rate | Expected | Previous | Change |
|---|---|---|---|---|---|
| Sep 17, 2026 | ■ hold | 3.75% | Hold at 3.75% | 3.75% | 0 bp |
| Jul 30, 2026 | ■ hold | 3.75% | Hold at 3.75% | 3.75% | 0 bp |
| Jun 18, 2026 | ■ hold | 3.75% | Hold at 3.75% | 3.75% | 0 bp |
| Apr 30, 2026 | ■ hold | 3.75% | Hold at 3.75% | 3.75% | 0 bp |
| Mar 19, 2026 | ■ hold | 3.75% | Hold at 3.75% | 3.75% | 0 bp |
| Feb 5, 2026 | ■ hold | 3.75% | Hold at 3.75% | 3.75% | 0 bp |
| Dec 18, 2025 | ▼ cut | 3.75% | Cut 25 bp to 3.75% | 4.00% | −25 bp |
| Nov 6, 2025 | ■ hold | 4.00% | Hold at 4.00% | 4.00% | 0 bp |
| Sep 18, 2025 | ■ hold | 4.00% | Hold at 4.00% | 4.00% | 0 bp |
| Aug 7, 2025 | ▼ cut | 4.00% | Cut 25 bp to 4.00% | 4.25% | −25 bp |
| Jun 19, 2025 | ■ hold | 4.25% | Hold at 4.25% | 4.25% | 0 bp |
| May 8, 2025 | ▼ cut | 4.25% | Cut 25 bp to 4.25% | 4.50% | −25 bp |
| Mar 20, 2025 | ■ hold | 4.50% | Hold at 4.50% | 4.50% | 0 bp |
| Feb 6, 2025 | ▼ cut | 4.50% | Cut 25 bp to 4.50% | 4.75% | −25 bp |
| Dec 19, 2024 | ■ hold | 4.75% | Hold at 4.75% | 4.75% | 0 bp |
| Nov 7, 2024 | ▼ cut | 4.75% | Cut 25 bp to 4.75% | 5.00% | −25 bp |
| Sep 19, 2024 | ■ hold | 5.00% | Hold at 5.00% | 5.00% | 0 bp |
| Aug 1, 2024 | ▼ cut | 5.00% | Cut 25 bp to 5.00% | 5.25% | −25 bp |
| Jun 20, 2024 | ■ hold | 5.25% | Hold at 5.25% | 5.25% | 0 bp |
| May 9, 2024 | ■ hold | 5.25% | Hold at 5.25% | 5.25% | 0 bp |
| Mar 21, 2024 | ■ hold | 5.25% | Hold at 5.25% | 5.25% | 0 bp |
| Feb 1, 2024 | ■ hold | 5.25% | Hold at 5.25% | 5.25% | 0 bp |
How the Monetary Policy Committee decides
Bank of England · United Kingdom
- Meetings
- Eight decisions a year.
- Announcement
- The decision, the vote and the minutes are published together at 12:00 noon London time.
- Press conference
- In February, May, August and November the Governor presents the Monetary Policy Report at a press conference after the decision.
- Projections
- The Monetary Policy Report, with the Bank's forecasts, is published in February, May, August and November.
- Who votes
- Nine members: the Governor, three Deputy Governors, the Chief Economist and four external members appointed by the Chancellor.
Check times against the bank's own calendar.
- The vote split, published at the same moment: a 5-4 hold says a move is close; 9-0 says it is not.
- The decision against what was expected.
- Changes to the guidance in the minutes ("gradual and careful", or a change of tone).
- The Monetary Policy Report's inflation forecast on report months.
Which way GBP/USD moves. GBP is the first currency in GBP/USD, so a hawkish surprise (a bigger hike, a smaller cut, a hold when a cut was expected) tends to push GBP/USD up, and a dovish one to push it down.
BoE meeting dates 2026 and 2027
Every upcoming BoE interest rate decision. Times in London and New York; your own time is on each decision's page. By year: BoE meeting dates 2025 · BoE meeting dates 2026 · BoE meeting dates 2027.
| Date | London time | New York | Expected | With projections | |
|---|---|---|---|---|---|
| Thu, Nov 5, 2026 | 12:00 PM London | Thu, Nov 5 · 7:00 AM EST | Not yet | Yes | Preview → |
| Thu, Dec 17, 2026 | 12:00 PM London | Thu, Dec 17 · 7:00 AM EST | Not yet | — | Preview → |
| Thu, Feb 4, 2027 | 12:00 PM London | Thu, Feb 4 · 7:00 AM EST | Not yet | Yes | |
| Thu, Mar 18, 2027 | 11:00 AM London | Thu, Mar 18 · 7:00 AM EDT | Not yet | — | |
| Thu, Apr 29, 2027 | 12:00 PM London | Thu, Apr 29 · 7:00 AM EDT | Not yet | Yes | |
| Thu, Jun 17, 2027 | 12:00 PM London | Thu, Jun 17 · 7:00 AM EDT | Not yet | — | |
| Thu, Jul 29, 2027 | 12:00 PM London | Thu, Jul 29 · 7:00 AM EDT | Not yet | Yes | |
| Thu, Sep 16, 2027 | 12:00 PM London | Thu, Sep 16 · 7:00 AM EDT | Not yet | — | |
| Thu, Nov 4, 2027 | 12:00 PM London | Thu, Nov 4 · 8:00 AM EDT | Not yet | Yes | |
| Thu, Dec 16, 2027 | 12:00 PM London | Thu, Dec 16 · 7:00 AM EST | Not yet | — |
BoE interest rate decision: questions
What time is the Bank of England interest rate decision?
12:00 noon London time, when the decision, the vote split and the minutes are published together.
Why does the BoE vote split matter?
All nine votes are published with the decision. A close vote tells the market the next move is near, so GBP can move on the split even when the rate does not change.
When is the next BoE meeting?
The next BoE interest rate decision is on Thursday, November 5, 2026 at 12:00 PM London. Times are in London time; the meeting dates below give the rest of the schedule.
What is the BoE interest rate now?
The Bank Rate is 3.75%. The last change was a cut of 25 bp on Dec 18, 2025.
How does the BoE decision move GBP/USD?
In 8 of 14 measured BoE decisions the first spike closed back inside the hour-before range within 60 minutes, and in 5 of those price then took the other side within four hours. In the other 6 (43%) the first move held. The median move in the first 15 minutes was 29 pips. GBP is the first currency in GBP/USD, so a hawkish surprise (a bigger hike, a smaller cut, a hold when a cut was expected) tends to push GBP/USD up, and a dovish one to push it down. Past reactions describe what happened, not what will.
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