Bank of England MPC rate decision + Monetary Policy Report: July 2026
Why it matters
BoE decisions move sterling and gilt yields, shift UK-EU financial conditions and shape the rate differential the ECB prices against — the third leg of the ECB/Fed policy triangle this calendar already tracks.
What to watch
- Bank Rate decision and the MPC vote split.
- Monetary Policy Report, published alongside the decision: the MPC’s own inflation and growth projections, the assumed rate path, and how far the forecast diverges from the ECB’s and the Fed’s.
- Inflation, wage-growth and energy-price language versus the ECB and Fed readings.
- Sterling/euro reaction and any UK-EU financial-services regulatory signals.
Result captured
Policy decision: the MPC held Bank Rate at 3.75% (vote 6–3). Source: BoE Monetary Policy Summary, 29 July 2026.
Held at 3.75% as the seeded consensus expected, but the hawkish minority grew to three (from two in June) voting for 4% — a hold with a tightening lean, amid energy-price volatility from the Middle East.
Briefing
The Bank of England held Bank Rate at 3.75% by a 6–3 vote, with three members (Greene, Mann and Pill) voting for a 25bp increase to 4% — the hawkish minority grew from two in June to three, against a backdrop of Middle East energy-price volatility the MPC says monetary policy cannot offset.
Sources
- BoE Monetary Policy Summary: July 2026
- Bank of England Monetary Policy Report
- Bank of England monetary policy
- Bank of England MPC dates
Open in the calendar
Open this event in the live GeoVeu calendar, alongside everything scheduled around it.