BoE MPC Meeting February 2026

The Bank of England narrowly voted 5-4 to hold the Bank Rate at 3.75% in February 2026. However, dovish shifts in voting and lower inflation forecasts have led markets to anticipate a rate cut as early as April.

Key Takeaways

• 1.The BoE MPC kept the Bank Rate unchanged at 3.75% in a surprisingly narrow 5-4 vote.
• 2.Financial markets have pulled forward rate cut expectations, with a June cut fully priced and an April cut seen as highly probable.
• 3.Inflation is now projected to return to the 2.0% target by Q3 2026, significantly earlier than previous estimates.

Table of Contents

• BoE narrowly votes to keep rates unchanged
• Governor's lone shift tilts the scales towards no change
• Forecast revisions support prospect of further rate cuts
• Market Insights Team
• Disclaimer

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