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MPC Meeting

When is the next MPC meeting?

Euan Robb
Content Manager

The next Bank of England Monetary Policy Committee (MPC) announcement is due on Thursday, 30 April 2026.

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The Monetary Policy Committee (MPC) of the Bank of England (BoE) meets eight scheduled times a year to discuss and set monetary policy, primarily focusing on interest rates and other tools to control inflation and support economic stability.

How can the next MPC Meeting affect your business?
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What is the MPC?

The Monetary Policy Committee (MPC) is a key decision-making body within the Bank of England responsible for setting monetary policy to achieve price stability and economic growth in the UK.

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What does the Monetary Policy Committee do?

The MPC's primary objective is to control inflation, keeping it close to the government's 2% target. To achieve this, the committee adjusts interest rates and employs other policy tools such as quantitative easing (QE) and quantitative tightening (QT). These tools influence liquidity and financial conditions in the economy, helping the BoE respond effectively to different economic scenarios.

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What date is the next Bank of England MPC meeting?

The next scheduled MPC announcement is on Thursday, 30 April 2026. The Bank of England’s confirmed 2026 MPC announcement dates are:

  • Thursday, 5 February 2026
  • Thursday, 19 March 2026
  • Thursday, 30 April 2026
  • Thursday, 18 June 2026
  • Thursday, 30 July 2026
  • Thursday, 17 September 2026
  • Thursday, 5 November 2026
  • Thursday, 17 December 2026

Each meeting concludes with a 12:00 noon (UK time) announcement, publishing meeting minutes, a Monetary Policy summary, and any decisions regarding interest rates. These dates are confirmed by the Bank of England.

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How often do the Monetary Policy Committee meet?

The Monetary Policy Committee meets eight times a year, approximately every six weeks.

Each meeting follows a set schedule, during which the committee reviews economic data, discusses monetary policy, and votes on interest rates and other financial measures. The decisions are then announced at 12:00 noon (UK time) on the final day of the meeting, along with meeting minutes and economic projections. Additionally, the Monetary Policy Report is published quarterly, providing a comprehensive analysis of economic conditions and the outlook for inflation

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Who is on the Monetary Policy Committee?

The MPC has nine members:

  • Andrew Bailey — Governor
  • Sarah Breeden — Deputy Governor, Financial Stability
  • Clare Lombardelli — Deputy Governor, Monetary Policy
  • Sir Dave Ramsden — Deputy Governor, Markets and Banking
  • Huw Pill — Chief Economist and Executive Director, Monetary Analysis
  • Dr Swati Dhingra — External member
  • Megan Greene — External member
  • Catherine L Mann — External member
  • Professor Alan Taylor — External member

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External members are appointed to ensure the MPC benefits from diverse perspectives and expertise from outside the Bank. A representative from HM Treasury also attends MPC meetings to provide insights into fiscal policy developments, though they do not have voting rights. For the most current information on MPC members, you can refer to the Bank of England's official website.

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What is the current Bank of England Bank Rate?

The current Bank Rate is 3.75%. At the MPC meeting ending 18 March 2026, the Committee voted unanimously to keep Bank Rate unchanged at 3.75%. The next Bank Rate decision is due on 30 April 2026.

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‍See more here: When is the next BoE interest rate decision?

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Latest MPC decision

At its latest meeting, published on 19 March 2026, the Bank of England said the MPC had voted 9–0 to keep Bank Rate at 3.75%.

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How can the next MPC meeting affect your business?

An MPC decision can move GBP, sterling currency pairs (such as GBPEUR and GBPUSD) interest-rate expectations and borrowing costs. For businesses, that can affect:

  • the cost of borrowing and refinancing,
  • import and export margins,
  • FX exposure on international payments,
  • budgeting and cash-flow planning.

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If the Bank Rate is cut

A rate cut can reduce borrowing costs, but it can also move currency markets quickly if traders were expecting a different outcome. That can affect the sterling value of overseas revenues, costs and repatriated profits. This is a market implication rather than a guaranteed outcome.

If the Bank Rate is unchanged

Even when rates are held, the market reaction can still be significant. Businesses often need to watch not just the decision itself, but also the MPC’s language on inflation, growth and the likely future path of rates.

If the Bank Rate is increased

A rate rise can increase borrowing costs and change FX pricing, which may affect margins, working capital and the cost of cross-border transactions. The exact impact depends on market expectations and your business’s currency exposure.

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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.

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How can the next MPC Meeting 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 GBP 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
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