Bank rate
4.50%
as of 2026-05-08
Last decision
▼ CUT 25BPS
Next meeting
Aug 7
T-46d
Bias
NEUTRAL
The Bank of England sets the Bank Rate and conducts monetary policy for the United Kingdom, targeting inflation as defined by the government remit. The Monetary Policy Committee meets eight times per year.
Sets the Bank Rate for sterling, the funding currency for London — the world's largest FX trading hub by volume. BoE decisions influence GBP cross-rates and the cost of offshore sterling funding.
Policy decisions are announced on the dates above. Source: official central bank schedules.
Bank rate
4.50%
As of 2026-05-08
GBP 2026 consensus
1.35
median of 21 banks
GBP net longs (CFTC)
22,312
latest as of
Next macro event
S&P Global Services PMI (Jun)
5 most-recent items prefer LLM synthesis where available
The desk posits that the recent central bank meetings from the Riskbank, Norges Bank, and Bank of England (BoE) highlight a shifting landscape in global rates amid evolving political dynamics in the…
The Bank of England's recent decision to maintain the policy rate at 3.75% reinforces a narrative of caution, with market participants now anticipating a rate cut as early as 2027. Per the full note…
The recent UK jobs data poses significant questions regarding the necessity for interest rate hikes by the Bank of England. Although the unemployment rate decreased to 4.9% and May payroll numbers…
Lead — The recent US-Iran agreement suggests that oil supply may stabilize, potentially keeping UK inflation below the critical threshold of 4%, thereby reducing the likelihood of a rate hike from…
The desk anticipates that surging energy prices will compel the Bank of England (BoE) to raise rates in July, particularly in light of projections pointing to substantial increases in oil and natural…
100 statements scored, Apr 2026 → May 2026
Most hawkish: May 11, 2026 (Ida Wolden Bache: Policy rate raised to 4.25 percent, score +75)
Most dovish: Apr 30, 2026 (Christine Lagarde, Luis de Guindos: ECB press conference -…, score -35)
Non-commercial net longs over the past 8 weeks. Latest report: for BoE
Latest net
22,312
GBP non-commercial contracts
WoW change
-5,041
8-week trend
oldest → newest
Reports referencing BoE across covered research desks
The Pound and Euro remained rangebound at the start of June as investors scaled back expectations for further Bank of…
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The British Pound has remained resilient against the Euro in recent months, but Rabobank believes the currency faces…
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The near-term dollar forecast took a hit yesterday on the back of the Japanese intervention and hawkish-leaning ECB and…
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EUR/USD, GBP/USD update after the Bank of England and ECB: The US Dollar tumbles as FX markets digest a slew of central…
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The impact from the ECB and BoE monetary policy decisions later today may prove fleeting if it runs counter to what's…
Read article →FX BANK FORECAST · COVERAGE
Aggregated year-end forecasts, scenario shifts, and curated analyst notes from eight institutional desks. No promotion.