Business
Personal
UK
Table of contents
Economic calendar
/
BoE Interest Rate Decision

When is the next BoE interest rate decision?

Euan Robb
Content Manager

The next Bank of England (BoE) interest rate decision is due on Thursday, May 8, 2025, at 11:00 UTC.

‍

The Bank of England (BoE) announces its interest rate decisions at the conclusion of its eight scheduled Monetary Policy Committee (MPC) meetings each year. These decisions will determine wether the central bank will raise, lower, or leave the current Bank Rate unchanged.

‍

What is the current Bank of England interest rate?

The Bank of England's current base interest rate is 4.50%. This rate has been in place since February 2025, following a 25 basis point reduction from 4.75%.

‍

What date is the next Bank of England interest rate meeting?

The next Bank of England interest rate meeting and decision is due on Thursday, May 8th.

See below for the all the BoE's scheduled MPC meetings in 2025:

  • Thursday, 6 February 2025
  • Thursday, 20 March 2025
  • Thursday, 8 May 2025
  • Thursday, 19 June 2025
  • Thursday, 7 August 2025
  • Thursday, 18 September 2025
  • Thursday, 6 November 2025
  • Thursday, 18 December 2025

Each meeting concludes with an announcement at 12:00 (noon) UK time, detailing the MPC's decisions on interest rates and providing insights into the UK's monetary policy. These dates are confirmed by the Bank of England.

‍

How can the next BoE Interest Rate Decision affect your business?
See the impact

What time is the interest rate decision?

The Bank of England announces its interest rate decisions at 12:00 (noon) UK time.

For the upcoming May 8, 2025 meeting, the decision will also be announced at 11:00 UTC.

‍

What is the next interest rate prediction for the Bank of England?

As of March 20, 2025, the Bank of England has maintained the Bank Rate at 4.5%. ​

Looking ahead, financial analysts anticipate a series of interest rate reductions over the next year. Specifically, forecasts suggest that the Bank Rate may decrease from the current 4.5% to 3.5% by early 2026, implying four quarter-point cuts during this period.

However, these projections are contingent upon various economic factors, including inflation trends, economic growth, and global economic conditions. The MPC has emphasised a cautious and gradual approach to any future rate adjustments, closely monitoring economic indicators to inform their decisions.

‍

What is the Bank of England rate decision for 2025?

The Bank of England announced its second interest rate decision for 2025 on March 20th. Currently, the Bank Rate stands at 4.50%, after the Monetary Policy Committee (MPC) decided to maintain the current rate.

‍

How often does the Bank of England review interest rates?

The BoE reviews interest rates eight times a year, approximately every six weeks. These reviews are conducted by the Monetary Policy Committee (MPC), which consists of nine members, including the BoE Governor. Each MPC meeting concludes with an announcement on Thursday at 12:00PM (noon).

However, The BoE can also hold emergency meetings to adjust interest rates outside the normal schedule in response to unexpected economic shocks, such as the COVID-19 pandemic in 2020.

‍

Historical interest rates: The BoE's Bank Rate history

See below for historical interest rate data, showing how the BoE's official Bank Rate has changed over time.
‍

‍

Date Changed Rate (%)
06 Feb 25 4.50
07 Nov 24 4.75
01 Aug 24 5.0
03 Aug 23 5.25
22 Jun 23 5.0
11 May 23 4.5
23 Mar 23 4.25
02 Feb 23 4.0
15 Dec 22 3.5
03 Nov 22 3.0
22 Sep 22 2.25

‍

What is the next Bank of England interest rate decision?

The Bank of England’s next interest rate announcement is set for Thursday, May 8, 2025, at 11:00 UTC. At this time, the Monetary Policy Committee (MPC) will announce whether it intends to maintain, increase, or lower the current 4.5% Bank Rate.

‍

What is the prediction for UK interest rates?

Many financial analysts expect and predict a series of interest rate cuts over the coming year. Current projections indicate that the Bank Rate may fall from its present level of 4.5% to approximately 3.5% by early 2026, suggesting the possibility of four quarter-point reductions during this timeframe.

That said, these forecasts are closely tied to several key economic variables, including inflation dynamics, economic growth, and global market conditions. Therefore, while a downward trend in interest rates is anticipated, the exact timing and magnitude of future rate cuts remain uncertain and will depend on the evolving economic landscape.

‍

What is the next interest rate announcement?

The next interest rate announcement from the BoE (Bank of England) is scheduled for Thursday, May 8, 2025, at 11:00 AM UTC.

This is when the Bank's Monetary Policy Committee (MPC) will reveal its decision on whether to hold, raise, or cut the current 4.5% Bank Rate.

‍

‍

‍

This publication is intended for general information purposes only and should not be construed as financial, legal, tax, or other professional advice from Equals Money PLC or its subsidiaries and affiliates.

It is recommended to seek advice from a financial advisor, expert, or other professional. We do not make any representations, warranties, or guarantees, whether expressed or implied, regarding the accuracy, or completeness of the content in the publication.

‍

How can the next BoE Interest Rate Decision affect your business?

What if the rate decreases?
What if the rate is unchanged?
What if the rate increases?
An interest rate cut typically weakens GBP, which could have significant implications for businesses with an international footprint:
Currency exposure on payments: If your business has payables or receivables in GBP, the resulting currency swings could significantly impact your bottom line.
Overseas profit repatriation: Currency swings caused by rate cuts can impact the value of your business’ profits being repatriated — potentially reducing profit margins.
Competitiveness in global markets: If you export to the UK, a weaker pound could affect competitiveness and make you more expensive to local customers. Similarly, UK exporters may become cheaper and undercut your pricing abroad.
Protect your bottom line with hedging
Rate decisions may be beyond your control — but how you manage currency volatility isn’t.

By implementing a hedging strategy, your business can mitigate FX risk.
Now Future
Get a forward contract
Holding interest rates steady doesn’t mean FX markets stand still. Market expectations, economic data, and geopolitical factors can all drive volatility in GBP:
Budgeting uncertainty: No rate change can often prolong uncertainty in the currency markets, making it difficult to forecast cross-border costs and revenues.
Market-driven FX fluctuations: Sometimes, held rates can trigger just as much movement as a hike or cut (especially if markets were expecting a shift). Surprise decisions or cautious BoE statements can weaken or strengthen GBP unexpectedly.
Increased sensitivity to external events: Markets may become more reactive to inflation reports, political developments, etc – all of which can cause FX volatility.
Protect your bottom line with hedging
Rate decisions may be beyond your control — but how you manage currency volatility isn’t.

By implementing a hedging strategy, your business can mitigate FX risk.
Now Future
Get a forward contract
An interest rate hike typically strengthens GBP, which could have significant implications for businesses with global operations:
Currency exposure on payments: If your business has payables or receivables in GBP, the resulting currency swings could significantly impact your bottom line.
FX costs in global supply chains: A stronger GBP can increase import costs or reduce export competitiveness of overseas markets (depending on which side of the currency movement you're on).
Cash flow planning: Volatile currency movements can disrupt forecasts, making it harder to manage cash flow, budget accurately, or set pricing in international markets.
Protect your bottom line with hedging
Rate decisions may be beyond your control — but how you manage currency volatility isn’t.

By implementing a hedging strategy, your business can mitigate FX risk.
Now Future
Get a forward contract

See more events affecting the market

Glance through our economic calendar to see all the macro events which might be affecting the markets.
See all events
Fri
02-May
Bank Holiday (CNY)
Final Manufacturing PMI (EUR, GBP)
Core CPI Flash Estimate & CPI Flash Estimate y/y (EUR)
Average Hourly Earnings m/m, Non-Farm Employment Change & Unemployment Rate (USD)
See more key events.
App store buttonGoogle Play button
Products
International paymentsExpense cardsPrepaid business cardsSpend management softwareMulti-currency business account
Use Cases
Expense managementProcurementEcommerce
About
ReviewsWhy Equals MoneyLife at Equals GroupCareersInvestorsPartnerships
Support
BlogContactDeveloper portalEnvironmentFAQsService statusWalkthroughsCustomer vulnerability
Terms & conditionsPrivacy policyCookie policyModern slavery statementGPG Report 2024Complaints
Equals Money Plc is registered in England & Wales No. 05539698. Equals Money Plc is part of Equals Group Limited (Registered in England & Wales No. 08922461). Registered Office: 3rd Floor, Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Money Plc is authorised by the Financial Conduct Authority to provide payment services (FCA No. 488396).Equals Money Cards are issued by Equals Money International Limited pursuant to licence by Mastercard International Inc. Equals Money International Limited is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900493). Equals Spend Cards are issued by Rapyd Payments Limited pursuant to licence by Mastercard International Inc. Rapyd Payments Limited is authorised by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900688). Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.