Bank of England (BoE)
The Bank of England (BoE) is the central bank of the United Kingdom. Its policy rate, the Bank Rate, is set by the Monetary Policy Committee (MPC): 9 members, namely the governor, three deputy governors, the chief economist, and four external members. Barring emergency meetings, the decision comes 8 times a year, on a Thursday at noon London time, which is 1:00 p.m. in Paris, with the minutes and each member’s vote. Four times a year, it comes with the Monetary Policy Report and its forecasts: this is “Super Thursday.” The MPC’s primary objective is price stability: 12-month CPI inflation of 2%, a target set by the government. On November 5, 2026, the Bank Rate was raised from 3.75% to 4% in an 8–1 vote, with the dissenter calling for 4.25%. Sterling reacts above all to surprises in the decision, the votes, and the forecasts. Upcoming releases: the economic calendar.
See also
The rate at which a central bank lends to commercial banks — the “rent on money.”
The set of levers a central bank uses to steer inflation and employment.
The central bank of the 21 euro area countries, which sets its policy rates 8 times a year.
The two monetary policy stances: restrictive (hawkish) or accommodative (dovish).
The schedule of upcoming economic releases, with their time, impact, and consensus.