Banks › Bank of England › History › 5 Feb 2026
Bank of England: decision of 5 February 2026
The Bank of England's Monetary Policy Committee kept Bank Rate at 3.75% by a 5–4 vote.
Decision
hold
- Rate
- 3.75%=3.75%
- Change
- 0 bp
- Vote
- 5–4
- Announced
Sources
- Statement
- bankofengland.co.uk/monetary-policy-summary-and-m…
- Monetary Policy Report
- bankofengland.co.uk/monetary-policy-report/2026/f…
- Recorded
- 5 Feb 2026
- Data
- JSON
What the bank said
The MPC said CPI inflation, though above the 2% target, was expected to fall back to around the target from April owing to developments in energy prices, including from Budget 2025.
It said pay growth and services price inflation had generally continued to ease and that the risk from greater inflation persistence had become less pronounced.
Guidance. The MPC said that on current evidence Bank Rate is likely to be reduced further, but that judgements on further easing will become a closer call.
Dissent
Sarah Breeden, Swati Dhingra, Dave Ramsden and Alan Taylor voted to cut Bank Rate by 0.25 percentage points, to 3.5%.
Before and after
- Previous decision: 18 Dec 2025, cut the Bank Rate by 25 bp to 3.75%.
- Next decision: 19 Mar 2026, held the Bank Rate at 3.75%.
- All Bank of England decisions and the rate history