The Bank of England maintained its key interest rate on Thursday but cautioned that there is a risk of material second-round effects from the energy price shock.
The Monetary Policy Committee voted 8-1 to hold the bank rate at 3.75 percent. The current rate remains at the lowest since June 2023. Previously, the BoE had reduced the rate by 25 basis points each in August and November last year. At the meeting, Huw Pill voted to increase Bank Rate by 0.25 percentage points, to 4 percent. He said a prompt but modest hike in interest rate will help mitigate upside risks to price stability stemming from a re-emergence of intrinsic inflation persistence.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.