Table of Contents
- When is the Next Bank of England Base Rate Meeting?
- What is the Current UK Base Rate?
- What Time is the Next Interest Rate Announcement?
- What is the Next Interest Rate Decision for the UK?
- UK Interest Rate Forecast for 2025
- How Does the Rate Decision Affect Mortgage Rates?
- Historical Base Rate Changes
- FAQs on UK Interest Rates
When is the Next Bank of England Base Rate Meeting?
The Bank of England’s Monetary Policy Committee (MPC) meets eight times in 2025 to review and set the UK’s base interest rate.
Upcoming BoE Meeting Dates (Official Schedule):
- 18 December 2025 (Source: Bank of England official schedule)
What is the Current UK Base Rate?
As of 6 November 2025, the UK base interest rate remains at 4.00%, following a 5–4 vote by the MPC to hold rates.
Four members voted for a 0.25% cut to 3.75%, signalling that easing is likely in December.
This decision follows three rate cuts earlier in 2025.
| Date | Base Rate (%) | Decision |
|---|---|---|
| Feb 6 | 4.50 | 0.25% cut |
| May 8 | 4.25 | 0.25% cut |
| Jun 19 | 4.25 | Held (6–3 vote) |
| Aug 7 | 4.00 | 0.25% cut (split vote) |
| Sep 18 | 4.00 | Held (7–2 vote) |
| Nov 6 | 4.00 | Held (5–4 vote) |
What is the Bank of England base rate?
It’s the interest rate the BoE charges commercial banks for borrowing money. It influences the cost of mortgages, loans, and savings across the UK.
Learn more: Bank of England Base Rate Explained
What Time is the Next Interest Rate Announcement?
- Date: Thursday, 18 December 2025
- Time: 11:00 UTC / 12:00 noon UK time
UK Interest Rate Forecast: November 2025
What Will the Bank of England Do Next?
At the November meeting, the MPC kept rates unchanged at 4.00%, but the narrow 5–4 vote suggests growing support for a December cut.
Factors Influencing the November Rate Decision:
- Inflation: CPI at 3.8% (Aug), forecast to touch 4% briefly before falling
- Unemployment: Rising steadily in 2025
- Wage Growth: High, though starting to cool
- GDP: Consecutive contractions in April (–0.3%) and May (–0.1%)
- Global Risks: Tariffs, oil prices, and currency pressure
As of now, markets price in a 60–65% chance of a 0.25% rate cut in December.
How Does the Rate Decision Affect Mortgage Rates?
Tracker Mortgages
- Move in sync with base rate
- A 0.25% cut saves ~£25/month on a £200,000 loan
Fixed-Rate Mortgages
- Unaffected during fixed term
- New deals may be priced lower if rate cuts continue
Standard Variable Rate (SVR)
- May decrease—but not always by the full base rate cut
- Depends on lender discretion and competitor behavior
Use our Mortgage Interest Rate Calculator to estimate your payment impact.
Historical Base Rate Changes
| Date | Bank Rate (%) |
|---|---|
| Aug 2024 | 5.00 |
| Nov 2024 | 4.75 |
| Feb 2025 | 4.50 |
| May 2025 | 4.25 |
| Jun 2025 | 4.25 |
| Aug 2025 | 4.00 |
| Sep 2025 | 4.00 |
| Nov 2025 | 4.00 (Held 5–4 vote) |
Historical Highlights:
- Highest: 17% (1979)
- Lowest: 0.1% (March 2020)
Explore full BoE rate history here
Expert Commentary
After the November Hold:
- Reuters: “Five members voted to hold rates, four for a cut — a signal that easing is likely in December.”
- Goldman Sachs: Now expects a 25 bp cut in December and further gradual reductions through mid-2026.
- Pantheon Macroeconomics: “Sluggish growth and sub-4% inflation leave room for the BoE to start cutting soon.”
Market Pricing: Still leaning toward 3.75% by year-end 2025.
Why Might Rates Fall Again?
Key Drivers for Rate Cuts:
- Slow growth: Retail and GDP data signal weak demand
- Rising unemployment
- Sticky but cooling inflation
- Global uncertainty (trade, oil prices)
- Falling currency: GBP drop adds to inflation via import prices
UK BoE MPC Meeting Calendar 2025
| Month | MPC Meeting Date |
|---|---|
| February | 6 Feb 2025 |
| March | N/A |
| May | 8 May 2025 |
| June | 19 June 2025 |
| August | 7 Aug 2025 |
| September | 18 Sep 2025 |
| November | 6 Nov 2025 |
| December | 18 Dec 2025 |
FAQs on UK Interest Rates
When is the next Bank of England interest rate decision?
Thursday, 18 December 2025 at 12:00 noon UK time.
What is the current base rate?
4.00%, held steady at the November MPC meeting (5–4 vote).
Will rates fall again?
Most analysts forecast a 0.25% cut in December, depending on upcoming inflation data.
How do rate changes affect my mortgage?
- Tracker: adjusts immediately
- Fixed: stays until renewal
- SVR: may or may not follow
Final Thoughts: What to Expect in 2025
- The BoE held rates again in November but signalled that policy could ease before year-end.
- Inflation is falling steadily and growth remains weak, keeping pressure on the MPC to act in December.
- Expect a gradual path of cuts through 2026 if price stability continues.
Stay tuned for the next MPC meeting on 18 December 2025 — likely to set the tone for 2026 rate policy.