Interest rates live: Bank of England announces decision in first vote of 2026 after inflation rises
Bank of England makes interest rate decision – what it means for you
- The Bank of England has maintained interest rates at 3.75 per cent following its first vote of 2026.
- This decision follows a rate cut in December 2025, which was the fourth reduction that year.
- The Monetary Policy Committee is adopting a cautious strategy to balance persistent inflation, sluggish economic growth, high wages, and increasing unemployment.
- Inflation unexpectedly increased to 3.4 per cent last month, although grocery inflation has shown signs of easing.
- While higher interest rates can lead to increased mortgage repayments for some, they also offer improved savings rates for others.
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