UK statistics
UK Bank Rate 2026: 3.75% Held + MPC Vote
The Bank of England Monetary Policy Committee voted by a majority of 6-3 to maintain Bank Rate at 3.75% at its meeting ending 16 September 2026, with three members voting for a 0.25 percentage point rise to 4%. The vote repeated July's 6-3 split. CPI inflation rose to 3.1% in August and the MPC expects it to rise further over coming quarters as higher energy prices pass through. The next decision is due on 5 November 2026.
Headline numbers
- UK Bank Rate, September 2026
- 3.75% held 6-3, BoE MPC 16 Sep 2026
- UK CPI inflation
- 3.1% August 2026, ONS
- MPC vote split
- 6-3 3 members voted for 4%
The detail
Bank Rate sets the floor for UK mortgage, business and personal lending. It has been 3.75% since the cut of 18 December 2025. The 5.25% peak applied from 3 August 2023 until the first cut of the cycle, to 5%, took effect on 1 August 2024.
The 16 September 2026 decision held rather than moved. Three MPC members voted for a rise to 4%. The Committee said conflict in the Middle East had pushed crude and refined energy prices higher and made them more volatile, that CPI inflation (3.1% in August) is likely to rise further, and that it judges the risks to the inflation outlook tilted to the upside. The next decision is due on 5 November 2026.
Bank Rate is the policy rate, not what most borrowers pay. The September minutes note that rises in market interest rates since the conflict began have passed through fully and fast to lending rates: the quoted rate on two-year fixed-rate mortgages was around 95 basis points higher than before the conflict.
For savers, NS&I's Premium Bonds annual prize fund rate is 4.35% (variable, prizes tax-free) as at 30 September 2026. With the Personal Savings Allowance fixed at £1,000 / £500 / £0 for basic, higher and additional-rate taxpayers, more savers are crossing into taxable territory than in the near-zero rate era.
Sources
- Bank of England - Bank Rate maintained at 3.75%: September 2026 Monetary Policy Summary and Minutes (retrieved 2026-09-30)
- Bank of England - July 2026 Monetary Policy Summary and Minutes (retrieved 2026-09-30)
- Bank of England database - Official Bank Rate history (IUDBEDR) (retrieved 2026-09-30)
- NS&I - Premium Bonds (retrieved 2026-09-30)
- Our methodology & full source list →
Related statistics
- Average house price
The UK House Price Index put the average UK house price at £273,000 in July 2026, up 1.4% on a year earlier (provisional). Country split: England £293,000 (+1.1%), Wales £215,000 (+2.6%), Scotland £196,000 (+2.3%) and Northern Ireland £202,000 (+9.2%, April to June 2026). The North East had the fastest growth of the English regions at 4.9%; London prices fell 3.3%.
- UK household saving ratio
The UK household saving ratio - the share of disposable income that households save rather than spend - was 8.8% in Q2 2026 (April to June), per the ONS Quarterly National Accounts published on 30 September 2026. That is up from 8.6% in Q1 2026 but below the 10.2% of Q1 2025, and still above the 2015-19 pre-pandemic average of 6.6%.
- UK Tax Burden
Effective combined tax (Income Tax + employee NI) rises from 16.3% on a £30,000 salary to 39.1% on £150,000 in 2026/27 (England, Wales and Northern Ireland) - not the headline marginal rate but the blended total-tax share.