On 5 February 2026, the Bank of England kept its key interest rate at 3.75 % after a narrow 5-4 vote by the Monetary Policy Committee (MPC). That tight split reflects ongoing uncertainty about the outlook for both inflation and economic growth. The Bank signaled a possible future rate reduction if inflation continues to decline toward its target and data support it.
Reuters
Governor Bailey was one of the members who backed holding rates, noting that while inflation is expected to fall and there “should be scope for some further reduction this year,” there was no firm timeline yet for when that might happen.
The Business Times