Bank of England Interest Rate Today

Bank Rate, the Bank of England's interest rate, is 3.75%. The Monetary Policy Committee last cut it by 0.25 point on 18 December 2025. That was the 6th cut since August 2024, 1.50 points in all. The 10-year gilt yield was 5.28% on 22 October 2026. CPI inflation was 3.5% in the 12 months to September 2026 (CPIH 3.6%), so the real Bank Rate is 0.25%. Silver in pounds is down 18.4% since that decision. Next MPC decision: Thursday 5 November 2026 at 12 noon.

Bank Rate

3.75%

−25 bp on Dec 18, 2025

10-year gilt

5.28%

Oct 22, 2026

CPI inflation

3.5%

Sep 2026 · real rate 0.25%

Next MPC decision

Thu 5 Nov

12 noon UK · in 9 days

Silver in £ since last move

−18.4%

£40.38/oz · £1 = $1.3373

Bank Rate, gilts and silver in pounds since 1997

weekly · silver on a log scale (right)

Bank Rate10-year gilt yieldSilver in £ (right scale)

MPC Rate Cycles Since 1997 and Silver in Pounds

Runs of Bank Rate hikes or cuts since the Bank of England took charge of rates (a gap of two years or more starts a new run), and how silver did in £ (our calculations).

Cycle	From → to	Moves	Silver during	12 months after the first move
Cuts Aug 2024–Dec 2025	5.25% → 3.75%	6 (−150 bp)	+115.2%	+23.8%
Hikes Dec 2021–Aug 2023	0.10% → 5.25%	14 (+515 bp)	+14.0%	+16.9%
Cuts Mar 2020	0.75% → 0.10%	2 (−65 bp)	−20.6%	+43.2%
Hikes Nov 2017–Aug 2018	0.25% → 0.75%	2 (+50 bp)	−8.8%	−12.1%
Cuts Aug 2016	0.50% → 0.25%	1 (−25 bp)	—	−18.4%
Cuts Dec 2007–Mar 2009	5.75% → 0.50%	9 (−525 bp)	+31.7%	−8.4%
Hikes Aug 2006–Jul 2007	4.50% → 5.75%	5 (+125 bp)	+0.1%	+1.4%
Cuts Aug 2005	4.75% → 4.50%	1 (−25 bp)	—	+56.7%
Hikes Nov 2003–Aug 2004	3.50% → 4.75%	5 (+125 bp)	+22.0%	+32.9%
Cuts Feb 2001–Jul 2003	6.00% → 3.50%	9 (−250 bp)	−6.5%	−2.3%
Hikes Sep 1999–Feb 2000	5.00% → 6.00%	4 (+100 bp)	+3.9%	+7.2%
Cuts Oct 1998–Jun 1999	7.50% → 5.00%	7 (−250 bp)	+3.8%	+11.3%
Hikes May 1997–Jun 1998	5.94% → 7.50%	6 (+156 bp)	+7.8%	+24.8%

"During": from the close before the first move to the close on the day of the last move. "12 months after": from the close before the first move. Silver in £ is the COMEX close divided by the Federal Reserve's US dollars per pound. Past cycles are not a forecast; compare the US: Fed funds rate.

Latest Daily Rates

Date	Bank Rate	10-year gilt	5-year	20-year	$ per £
Oct 22, 2026	3.75%	5.28%	4.91%	5.58%	1.3381
Oct 21, 2026	3.75%	5.33%	4.95%	5.64%	1.3391
Oct 20, 2026	3.75%	5.35%	4.96%	5.67%	1.3377
Oct 19, 2026	3.75%	5.37%	4.97%	5.71%	1.3306
Oct 16, 2026	3.75%	5.30%	4.90%	5.64%	1.3330
Oct 15, 2026	3.75%	5.31%	4.92%	5.64%	1.3257
Oct 14, 2026	3.75%	5.38%	4.97%	5.72%	1.3155
Oct 13, 2026	3.75%	5.39%	4.98%	5.73%	1.3255
Oct 12, 2026	3.75%	5.39%	4.97%	5.73%	—
Oct 9, 2026	3.75%	5.40%	4.97%	5.75%	1.3229

Gilt yields are the Bank of England's estimated par yields for conventional gilts.

Year by Year

Year	Bank Rate at year-end	Average 10-year gilt	CPI inflation (Dec)	Silver in £ that year
2026 (so far)	3.75%	4.86%	3.5%	−22.5%
2025	3.75%	4.56%	3.4%	+125.7%
2024	4.75%	4.14%	2.5%	+23.5%
2023	5.25%	4.05%	4.0%	−5.3%
2022	3.50%	2.48%	10.5%	+14.3%
2021	0.25%	0.80%	5.4%	−10.3%
2020	0.10%	0.37%	0.6%	+43.5%
2019	0.75%	0.94%	1.3%	+11.1%
2018	0.75%	1.46%	2.1%	−3.3%
2017	0.50%	1.24%	3.0%	−3.0%
2016	0.25%	1.30%	1.6%	+37.3%
2015	0.50%	1.89%	0.2%	−6.3%
2014	0.50%	2.57%	0.5%	−14.3%
2013	0.50%	2.39%	2.0%	−36.5%
2012	0.50%	1.92%	2.7%	+1.5%
2011	0.50%	3.12%	4.2%	−8.9%
2010	0.50%	3.62%	3.7%	+89.4%
2009	0.50%	3.65%	2.9%	+42.4%
2008	2.00%	4.59%	3.1%	−0.8%
2007	5.50%	5.02%	2.1%	+12.9%
2006	5.00%	4.50%	3.0%	+28.2%
2005	4.50%	4.41%	1.9%	+44.3%
2004	4.75%	4.87%	1.7%	+6.4%
2003	3.75%	4.53%	1.3%	+15.3%
2002	4.00%	4.90%	1.7%	−6.6%
2001	4.00%	4.93%	1.1%	+1.5%
2000	6.00%	5.32%	0.8%	−7.2%
1999	5.50%	5.11%	1.1%	+9.5%
1998	6.25%	5.54%	1.6%	−17.2%
1997	7.25%	7.05%	1.7%	+30.7%

CPI: the 12-month rate in December (this year: the latest month). Average gilt yield from weekly values before the last 400 days. Silver change: last close of the year in pounds against the year before.

Every Bank Rate change since 1975 (257)

Date	New rate	Change	Silver in £ that day	1 month later
Dec 18, 2025	3.75%	−25 bp	£48.24	+33.1%
Aug 7, 2025	4.00%	−25 bp	£28.40	+7.3%
May 8, 2025	4.25%	−25 bp	£24.37	+9.2%
Feb 6, 2025	4.50%	−25 bp	£26.15	−2.3%
Nov 7, 2024	4.75%	−25 bp	£24.46	+1.1%
Aug 1, 2024	5.00%	−25 bp	£22.18	−2.4%
Aug 3, 2023	5.25%	+25 bp	£18.56	+3.0%
Jun 22, 2023	5.00%	+50 bp	£17.60	+7.5%
May 11, 2023	4.50%	+25 bp	£19.40	−4.2%
Mar 23, 2023	4.25%	+25 bp	£18.78	+8.8%
Feb 2, 2023	4.00%	+50 bp	£19.20	−9.0%
Dec 15, 2022	3.50%	+50 bp	£18.95	+3.0%
Nov 3, 2022	3.00%	+75 bp	£17.38	+9.7%
Sep 22, 2022	2.25%	+50 bp	£17.35	−1.6%
Aug 4, 2022	1.75%	+50 bp	£16.55	−6.3%
Jun 16, 2022	1.25%	+25 bp	£17.72	−11.9%
May 5, 2022	1.00%	+25 bp	£18.16	−2.2%
Mar 17, 2022	0.75%	+25 bp	£19.44	+4.4%
Feb 3, 2022	0.50%	+25 bp	£16.45	+13.0%
Dec 16, 2021	0.25%	+15 bp	£16.85	+3.0%
Mar 19, 2020	0.10%	−15 bp	£10.37	+22.1%
Mar 11, 2020	0.25%	−50 bp	£12.98	−2.0%
Aug 2, 2018	0.75%	+25 bp	£11.76	−5.1%
Nov 2, 2017	0.50%	+25 bp	£13.06	−5.7%
Aug 4, 2016	0.25%	−25 bp	£15.48	−4.3%
Mar 5, 2009	0.50%	−50 bp	£9.31	−4.5%
Feb 5, 2009	1.00%	−50 bp	£8.75	+8.7%
Jan 8, 2009	1.50%	−50 bp	£7.16	+16.6%
Dec 4, 2008	2.00%	−100 bp	£6.48	+19.6%
Nov 6, 2008	3.00%	−150 bp	£6.58	+1.8%
Oct 8, 2008	4.50%	−50 bp	£6.73	−3.0%
Apr 10, 2008	5.00%	−25 bp	£9.28	−1.8%
Feb 7, 2008	5.25%	−25 bp	£8.60	+19.5%
Dec 6, 2007	5.50%	−25 bp	£6.93	+9.4%
Jul 5, 2007	5.75%	+25 bp	£6.26	+1.5%
May 10, 2007	5.50%	+25 bp	£6.70	+0.5%
Jan 11, 2007	5.25%	+25 bp	£6.38	+10.2%
Nov 9, 2006	5.00%	+25 bp	£6.61	+6.9%
Aug 3, 2006	4.75%	+25 bp	£6.40	+7.0%
Aug 4, 2005	4.50%	−25 bp	£4.06	−6.4%
Aug 5, 2004	4.75%	+25 bp	£3.64	+4.2%
Jun 10, 2004	4.50%	+25 bp	£3.08	+11.6%
May 6, 2004	4.25%	+25 bp	£3.36	−7.7%
Feb 5, 2004	4.00%	+25 bp	£3.34	+11.3%
Nov 6, 2003	3.75%	+25 bp	£2.97	+5.1%
Jul 10, 2003	3.50%	−25 bp	£2.96	+8.0%
Feb 6, 2003	3.75%	−25 bp	£2.92	−3.7%
Nov 8, 2001	4.00%	−50 bp	£2.84	+5.3%
Oct 4, 2001	4.50%	−25 bp	£3.12	−7.2%
Sep 18, 2001	4.75%	−25 bp	£2.99	+3.0%
Aug 2, 2001	5.00%	−25 bp	£2.96	−2.2%
May 10, 2001	5.25%	−25 bp	£3.10	+3.6%
Apr 5, 2001	5.50%	−25 bp	£3.05	+0.6%
Feb 8, 2001	5.75%	−25 bp	£3.17	−3.9%
Feb 10, 2000	6.00%	+25 bp	£3.34	−2.7%
Jan 13, 2000	5.75%	+25 bp	£3.09	+7.6%
Nov 4, 1999	5.50%	+25 bp	£3.19	+0.1%
Sep 8, 1999	5.25%	+25 bp	£3.19	+4.7%
Jun 10, 1999	5.00%	−25 bp	£3.14	+9.2%
Apr 8, 1999	5.25%	−25 bp	£3.10	+3.8%
Feb 4, 1999	5.50%	−50 bp	£3.43	−4.0%
Jan 7, 1999	6.00%	−25 bp	£3.21	+11.7%
Dec 10, 1998	6.25%	−50 bp	£2.90	+9.2%
Nov 5, 1998	6.75%	−50 bp	£2.98	−3.2%
Oct 8, 1998	7.25%	−25 bp	£3.03	+0.5%
Jun 4, 1998	7.50%	+25 bp	£3.16	+2.4%
Nov 6, 1997	7.25%	+25 bp	£2.90	+12.1%
Aug 7, 1997	7.00%	+25 bp	£2.77	+8.9%
Jul 10, 1997	6.75%	+25 bp	£2.59	+7.7%
Jun 6, 1997	6.50%	+25 bp	£2.95	−8.5%
May 6, 1997	6.25%	+31 bp	£2.88	+0.6%
Oct 30, 1996	5.94%	+25 bp	£2.95	−5.9%
Jun 6, 1996	5.69%	−25 bp	£3.37	−2.0%
Mar 8, 1996	5.94%	−19 bp	£3.60	+1.0%
Jan 18, 1996	6.13%	−25 bp	£3.56	+1.6%
Dec 13, 1995	6.38%	−25 bp	£3.33	+4.4%
Feb 2, 1995	6.63%	+50 bp	£2.99	−5.5%
Dec 7, 1994	6.13%	+50 bp	£3.00	+5.0%
Sep 12, 1994	5.63%	+50 bp	£3.51	−0.9%
Feb 8, 1994	5.13%	−25 bp	£3.55	−2.7%
Nov 23, 1993	5.38%	−50 bp	£3.15	+4.3%
Jan 26, 1993	5.88%	−100 bp	£2.41	+5.8%
Nov 13, 1992	6.88%	−100 bp	£2.45	−1.3%
Oct 16, 1992	7.88%	−100 bp	£2.24	+13.1%
Sep 22, 1992	8.88%	−100 bp	£2.22	+5.1%
May 5, 1992	9.88%	−50 bp	£2.25	−1.2%
Sep 4, 1991	10.38%	−50 bp	£2.32	+4.7%
Jul 12, 1991	10.88%	−50 bp	£2.65	−14.5%
May 24, 1991	11.38%	−50 bp	£2.34	+13.6%
Apr 12, 1991	11.88%	−50 bp	£2.26	+5.3%
Mar 22, 1991	12.38%	−50 bp	£2.24	+4.6%
Feb 27, 1991	12.88%	−50 bp	£1.89	+18.7%
Feb 13, 1991	13.38%	−50 bp	£1.87	+19.0%
Oct 8, 1990	13.88%	−100 bp	£2.40	−10.5%
Oct 6, 1989	14.88%	+113 bp	£3.21	+1.6%
Sep 8, 1989	13.75%	−13 bp	£3.31	−2.6%
Sep 4, 1989	13.88%	+4 bp	£3.25	+0.5%
Aug 31, 1989	13.84%	+9 bp	£3.22	+0.9%
May 25, 1989	13.75%	+87 bp	£3.30	+2.8%
Nov 25, 1988	12.88%	+100 bp	£3.33	+1.8%
Aug 25, 1988	11.88%	+100 bp	£3.99	−6.9%
Aug 8, 1988	10.88%	+50 bp	£4.01	−4.1%
Jul 21, 1988	10.38%	+50 bp	£4.49	−14.3%
Jul 7, 1988	9.88%	+100 bp	£4.04	+2.0%
Jun 24, 1988	8.88%	+50 bp	£4.01	+11.3%
Jun 10, 1988	8.38%	+50 bp	£3.92	+6.1%
Jun 3, 1988	7.88%	+50 bp	£4.02	+4.6%
May 17, 1988	7.38%	−50 bp	£3.53	+13.1%
Apr 8, 1988	7.88%	−50 bp	£3.42	−1.0%
Mar 17, 1988	8.38%	−50 bp	£3.44	−0.8%
Feb 1, 1988	8.88%	+50 bp	£3.72	−5.7%
Dec 3, 1987	8.38%	−50 bp	£3.85	−7.1%
Nov 4, 1987	8.88%	−50 bp	£3.86	−4.9%
Oct 23, 1987	9.38%	−50 bp	£4.49	−18.5%
Aug 6, 1987	9.88%	+100 bp	£5.26	−13.1%
May 8, 1987	8.88%	−50 bp	£4.89	−0.5%
Apr 28, 1987	9.38%	−50 bp	£5.10	−29.7%
Mar 18, 1987	9.88%	−50 bp	£3.47	+26.0%
Mar 9, 1987	10.38%	−50 bp	£3.49	+18.1%
Oct 15, 1986	10.88%	+100 bp	£3.88	+4.0%
May 23, 1986	9.88%	−50 bp	£3.35	+3.1%
Apr 18, 1986	10.38%	−50 bp	£3.43	−6.1%
Apr 11, 1986	10.88%	−50 bp	£3.67	−7.2%
Mar 19, 1986	11.38%	−100 bp	£3.85	−11.9%
Jan 15, 1986	12.38%	+100 bp	£4.23	−2.1%
Jul 26, 1985	11.38%	−50 bp	£4.31	+2.2%
Jul 11, 1985	11.88%	−50 bp	£4.33	+3.5%
Apr 19, 1985	12.38%	−50 bp	£4.95	+2.4%
Mar 28, 1985	12.88%	−50 bp	£5.35	−3.6%
Mar 20, 1985	13.38%	−50 bp	£5.61	−7.0%
Jan 28, 1985	13.88%	+200 bp	£5.35	−1.1%
Jan 14, 1985	11.88%	+238 bp	£5.40	+6.1%
Nov 23, 1984	9.50%	−25 bp	£6.17	−11.5%
Nov 19, 1984	9.75%	−25 bp	£6.03	−10.4%
Nov 5, 1984	10.00%	−50 bp	£5.92	−0.9%
Aug 17, 1984	10.50%	−25 bp	£5.94	−3.8%
Aug 16, 1984	10.75%	−25 bp	£5.95	−5.5%
Aug 9, 1984	11.00%	−50 bp	£5.70	−1.9%
Aug 8, 1984	11.50%	−50 bp	£5.73	−0.1%
Jul 11, 1984	12.00%	+200 bp	£5.49	+4.3%
Jul 6, 1984	10.00%	+112 bp	£5.77	−1.3%
Jun 29, 1984	8.88%	−18 bp	£6.18	−13.8%
May 10, 1984	9.06%	+50 bp	£6.22	+5.1%
Mar 14, 1984	8.56%	−25 bp	£6.73	−3.8%
Mar 7, 1984	8.81%	−25 bp	£6.73	−5.8%
Oct 3, 1983	9.06%	−50 bp	£7.01	−22.1%
Aug 10, 1983	9.56%	+12 bp	£7.75	+5.4%
Aug 9, 1983	9.44%	−12 bp	£7.78	+5.6%
Jun 14, 1983	9.56%	−25 bp	£7.69	+5.6%
Jun 13, 1983	9.81%	−25 bp	£7.56	+6.3%
Apr 14, 1983	10.06%	−25 bp	£7.56	+12.8%
Apr 13, 1983	10.31%	−25 bp	£7.30	+11.9%
Mar 15, 1983	10.56%	−44 bp	£7.43	+4.6%
Jan 12, 1983	11.00%	+100 bp	£7.68	+20.0%
Nov 26, 1982	10.00%	+87 bp	£5.79	+16.1%
Nov 2, 1982	9.13%	−25 bp	£6.15	+2.3%
Nov 1, 1982	9.38%	−25 bp	£6.05	+5.8%
Oct 12, 1982	9.63%	−50 bp	£5.48	+6.3%
Sep 30, 1982	10.13%	−12 bp	£4.84	+18.2%
Sep 29, 1982	10.25%	−13 bp	£4.98	+20.4%
Sep 28, 1982	10.38%	−12 bp	£4.89	+16.2%
Sep 27, 1982	10.50%	−13 bp	£5.00	+12.7%
Aug 27, 1982	10.63%	−25 bp	£4.75	+9.1%
Aug 26, 1982	10.88%	−12 bp	£4.59	+16.9%
Aug 25, 1982	11.00%	−13 bp	£4.46	+13.0%
Aug 24, 1982	11.13%	−12 bp	£4.62	+15.9%
Aug 17, 1982	11.25%	−13 bp	£3.72	+42.1%
Aug 16, 1982	11.38%	−12 bp	£3.69	+43.1%
Aug 4, 1982	11.50%	−6 bp	£3.94	+25.5%
Aug 2, 1982	11.56%	−7 bp	£3.93	+16.9%
Jul 30, 1982	11.63%	−12 bp	£3.82	+25.3%
Jul 29, 1982	11.75%	−6 bp	£3.86	+18.5%
Jul 28, 1982	11.81%	−13 bp	£4.01	+15.8%
Jul 26, 1982	11.94%	−12 bp	£4.04	+13.4%
Jul 21, 1982	12.06%	−7 bp	£4.01	+16.0%
Jul 13, 1982	12.13%	−12 bp	£3.62	+3.0%
Jul 12, 1982	12.25%	−25 bp	£3.64	+1.7%
Jul 9, 1982	12.50%	−13 bp	£3.62	+15.4%
Jun 8, 1982	12.63%	−50 bp	£3.41	+1.4%
Apr 20, 1982	13.13%	+13 bp	£4.06	−10.6%
Apr 19, 1982	13.00%	−13 bp	£4.22	−11.9%
Apr 16, 1982	13.13%	−12 bp	£4.27	−14.3%
Mar 10, 1982	13.25%	−38 bp	£3.98	+8.8%
Feb 25, 1982	13.63%	−18 bp	£4.38	−9.6%
Feb 22, 1982	13.81%	−7 bp	£4.38	−12.2%
Jan 22, 1982	13.88%	−12 bp	£4.23	+4.7%
Jan 21, 1982	14.00%	−13 bp	£4.18	+7.8%
Jan 20, 1982	14.13%	−12 bp	£4.15	+7.3%
Jan 19, 1982	14.25%	−6 bp	£4.17	+8.2%
Jan 18, 1982	14.31%	−7 bp	£4.14	+5.2%
Dec 4, 1981	14.38%	−18 bp	£4.51	−4.7%
Nov 25, 1981	14.56%	−7 bp	£4.24	+3.7%
Nov 9, 1981	14.63%	−43 bp	£4.82	−6.9%
Nov 6, 1981	15.06%	−7 bp	£4.82	−6.9%
Oct 28, 1981	15.13%	+13 bp	£5.02	−14.7%
Oct 12, 1981	15.00%	+100 bp	£4.99	−9.3%
Sep 15, 1981	14.00%	+131 bp	£6.02	−16.2%
Aug 25, 1981	12.69%	+69 bp	£4.77	+4.1%
Mar 11, 1981	12.00%	−200 bp	£5.30	−4.2%
Nov 25, 1980	14.00%	−200 bp	£7.62	−14.0%
Jul 3, 1980	16.00%	−100 bp	£7.14	−8.8%
Nov 15, 1979	17.00%	+300 bp	£7.52	+25.0%
Jun 13, 1979	14.00%	+200 bp	£3.94	−1.0%
Apr 5, 1979	12.00%	−100 bp	£3.56	+8.7%
Mar 1, 1979	13.00%	−100 bp	£3.77	−4.9%
Feb 8, 1979	14.00%	+150 bp	£3.75	−2.5%
Nov 9, 1978	12.50%	+250 bp	£2.95	+0.2%
Jun 8, 1978	10.00%	+100 bp	£2.91	−4.8%
May 15, 1978	9.00%	+25 bp	£2.78	+2.7%
May 8, 1978	8.75%	+125 bp	£2.78	+4.4%
Apr 12, 1978	7.50%	+100 bp	£2.83	−0.3%
Jan 9, 1978	6.50%	−50 bp	£2.54	−0.5%
Nov 28, 1977	7.00%	+200 bp	£2.63	−3.2%
Oct 17, 1977	5.00%	−50 bp	£2.72	−1.5%
Oct 10, 1977	5.50%	−50 bp	£2.65	+3.0%
Sep 19, 1977	6.00%	−50 bp	£2.62	+5.9%
Sep 12, 1977	6.50%	−50 bp	£2.58	+5.7%
Aug 15, 1977	7.00%	−50 bp	£2.54	−1.2%
Aug 8, 1977	7.50%	−50 bp	£2.63	−1.1%
May 16, 1977	8.00%	−25 bp	£2.77	−7.4%
May 2, 1977	8.25%	−50 bp	£2.78	−2.8%
Apr 25, 1977	8.75%	−25 bp	£2.81	−4.9%
Apr 18, 1977	9.00%	−25 bp	£2.81	−1.2%
Apr 12, 1977	9.25%	−25 bp	£2.78	−0.3%
Mar 31, 1977	9.50%	−100 bp	£2.81	−2.3%
Mar 21, 1977	10.50%	−50 bp	£2.88	−2.6%
Mar 10, 1977	11.00%	−100 bp	£2.82	−1.2%
Feb 3, 1977	12.00%	−25 bp	£2.63	+8.1%
Jan 31, 1977	12.25%	−100 bp	£2.59	+7.5%
Jan 24, 1977	13.25%	−75 bp	£2.58	+6.3%
Jan 10, 1977	14.00%	−25 bp	£2.56	+1.9%
Dec 29, 1976	14.25%	−25 bp	£2.55	+2.3%
Dec 20, 1976	14.50%	−25 bp	£2.57	−0.8%
Nov 22, 1976	14.75%	−25 bp	£2.66	0.0%
Oct 7, 1976	15.00%	+200 bp	£2.58	+2.9%
Sep 13, 1976	13.00%	+150 bp	£2.39	+4.1%
May 24, 1976	11.50%	+100 bp	£2.44	+7.7%
Apr 26, 1976	10.50%	+150 bp	£2.42	+4.9%
Mar 8, 1976	9.00%	−25 bp	£2.20	+8.9%
Mar 1, 1976	9.25%	−25 bp	£2.07	+6.4%
Feb 9, 1976	9.50%	−50 bp	£1.97	+10.7%
Feb 2, 1976	10.00%	−50 bp	£1.97	+3.7%
Jan 26, 1976	10.50%	−25 bp	£1.92	+4.5%
Jan 19, 1976	10.75%	−25 bp	£1.98	+3.7%
Jan 5, 1976	11.00%	−25 bp	£2.07	−5.5%
Dec 29, 1975	11.25%	−25 bp	£2.10	−5.7%
Dec 1, 1975	11.50%	−25 bp	£2.04	−1.3%
Nov 17, 1975	11.75%	−25 bp	£2.13	−6.5%
Oct 6, 1975	12.00%	+100 bp	£2.19	−2.0%
Jul 28, 1975	11.00%	+100 bp	£2.23	+1.7%
May 5, 1975	10.00%	+25 bp	£1.84	+2.0%
Apr 21, 1975	9.75%	−25 bp	£1.81	+8.1%
Mar 24, 1975	10.00%	−25 bp	£1.78	+2.6%
Mar 10, 1975	10.25%	−25 bp	£1.79	−2.6%
Feb 17, 1975	10.50%	−25 bp	£1.87	−4.1%
Feb 10, 1975	10.75%	−25 bp	£1.80	−0.1%
Jan 27, 1975	11.00%	−25 bp	£1.80	+3.0%

From the Bank of England's Bank Rate history (official rates under different names before 2006: Minimum Lending Rate, the dealing rate and the repo rate). The Monetary Policy Committee has set rates since 6 May 1997. Unscheduled moves (for example October 2008 and March 2020) are included.

Bank of England Rate: FAQ

What is the Bank of England interest rate today?

Bank Rate is 3.75%, set on 18 December 2025. It is the rate the Bank pays on reserves that commercial banks hold with it, and it feeds through to mortgage, loan and savings rates and to SONIA, the overnight rate for sterling.

When is the next Bank of England rate decision?

The Monetary Policy Committee announces its next decision on Thursday 5 November 2026 at 12 noon UK time. It meets eight times a year; the following dates are 17 Dec 2026, 4 Feb 2027, 18 Mar 2027, 29 Apr 2027.

What is the 10-year gilt yield?

The yield on 10-year UK government bonds (gilts): the Bank of England's par yield estimate was 5.28% on 22 October 2026. It moves with expected Bank Rates, inflation and the risk investors see in lending to the UK government for ten years.

How does Bank Rate affect the silver price in the UK?

Silver is priced in US dollars, so for UK buyers the pound matters as much as the metal: when the Bank of England cuts faster than the US Federal Reserve, sterling tends to weaken and silver costs more in pounds. Lower rates also reduce what savers give up by holding silver. The cycle table above shows silver in pounds during each run of MPC hikes or cuts since 1997.

What is the real interest rate in the UK?

Bank Rate (3.75%) minus CPI inflation over the last 12 months (3.5% to September 2026) gives 0.25%. When the real rate is negative, cash savings lose buying power, which has tended to support silver.

Where do the figures come from?

Bank Rate and gilt yields: the Bank of England Database. Inflation: the Office for National Statistics (CPI and CPIH, 12-month rates). US dollars per pound: the Federal Reserve (H.10). Silver in pounds is our calculation from COMEX closes and that exchange rate; today's figure uses the live spot price.

Bank Rate and gilt yields: Bank of England Database, licensed under the Open Government Licence v3.0. The Bank of England does not endorse Corgano. See the Bank Rate history and the Bank's terms. Inflation: CPI and CPIH 12-month rates (D7G7, L55O), September 2026. Source: Office for National Statistics licensed under the Open Government Licence v.3.0. US dollars per pound: Board of Governors of the Federal Reserve System, H.10 (public domain), via FRED; days not yet available there come from Corgano's own exchange-rate feed. Silver prices are COMEX front-month futures closes; prices in pounds, cycle and yearly changes and the real rate are Corgano's calculations.

Cite this page

For essays, articles and research. Prices on this page update daily, so the citations include today's date as the date you accessed it.

APA 7

Corgano. (2026, October 27). Bank of england interest rate today. Corgano Silver Price. Retrieved October 27, 2026, from https://silverprice.corgano.com/bank-of-england-rate

MLA 9

“Bank of England Interest Rate Today.” Corgano Silver Price, silverprice.corgano.com/bank-of-england-rate. Accessed 27 Oct. 2026.

Chicago

Corgano. “Bank of England Interest Rate Today.” Corgano Silver Price. Accessed October 27, 2026. https://silverprice.corgano.com/bank-of-england-rate.

BibTeX

@misc{corgano2026bankofenglandinterest, author = {{Corgano}}, title = {Bank of England Interest Rate Today}, howpublished = {\url{https://silverprice.corgano.com/bank-of-england-rate}}, year = {2026}, note = {Corgano Silver Price, accessed 2026-10-27}}

Link

Bank of England Interest Rate Today — Corgano Silver Price: https://silverprice.corgano.com/bank-of-england-rate