Bank of England Base Rate Today: 3.75%
The Bank Rate is 3.75%. It was last changed on 18 December 2025, from 4% to 3.75%.
Bank Rate changes since 2019
| Date | New rate | Change |
|---|---|---|
| 18 December 2025 | 3.75% | −0.25 points |
| 7 August 2025 | 4% | −0.25 points |
| 8 May 2025 | 4.25% | −0.25 points |
| 6 February 2025 | 4.5% | −0.25 points |
| 7 November 2024 | 4.75% | −0.25 points |
| 1 August 2024 | 5% | −0.25 points |
| 3 August 2023 | 5.25% | +0.25 points |
| 22 June 2023 | 5% | +0.50 points |
| 11 May 2023 | 4.5% | +0.25 points |
| 23 March 2023 | 4.25% | +0.25 points |
| 2 February 2023 | 4% | +0.50 points |
| 15 December 2022 | 3.5% | +0.50 points |
| 3 November 2022 | 3% | +0.75 points |
| 22 September 2022 | 2.25% | +0.50 points |
| 4 August 2022 | 1.75% | +0.50 points |
| 16 June 2022 | 1.25% | +0.25 points |
| 5 May 2022 | 1% | +0.25 points |
| 17 March 2022 | 0.75% | +0.25 points |
| 3 February 2022 | 0.5% | +0.25 points |
| 16 December 2021 | 0.25% | +0.15 points |
| 19 March 2020 | 0.1% | −0.15 points |
| 11 March 2020 | 0.25% | −0.50 points |
What the Bank Rate means for you
- Mortgages: if you are on a tracker or standard variable rate, your payment usually changes soon after the Bank Rate does. Fixed-rate deals do not change until the fix ends, but new fixed rates reflect where lenders expect the Bank Rate to go. See average mortgage rates.
- Savings: banks tend to raise or cut savings rates when the Bank Rate moves. See average savings rates.
- Loans and credit cards: these are priced above the Bank Rate and move less closely with it. See average loan and credit card rates.
Effect on a £200,000 mortgage
| Interest rate | Monthly repayment (25 years) |
|---|---|
| 3.75% | £1,028 |
| 4.75% | £1,140 |
| 5% | £1,169 |
| 5.75% | £1,258 |
| 6% | £1,289 |
This table shows mortgage rates at example levels, not the Bank Rate itself: mortgage rates are set by lenders and are usually higher than the Bank Rate. Source: Bank of England Statistical Interactive Database, series IUDBEDR (official Bank Rate). Figures fetched 12 October 2026.
Frequently asked questions
What is the Bank of England base rate today?
The Bank Rate is 3.75% (as at 9 October 2026). It was last changed on 18 December 2025, when it moved down from 4% to 3.75%.
What does the Bank Rate affect?
It sets the benchmark for borrowing and saving. Tracker and variable-rate mortgages usually move with it straight away, while fixed rates depend on what lenders expect it to do in future. Savings rates tend to follow it too.
Who sets the Bank Rate?
The Bank of England’s Monetary Policy Committee votes on it, aiming to keep inflation at 2%. The Bank publishes its meeting dates in advance.
How much would a rate change affect my mortgage?
On a £200,000 repayment mortgage over 25 years, each full percentage point on the rate changes the monthly payment by roughly £114. Try the mortgage calculator.
Figures are for the 2026/27 tax year from official sources and are estimates for guidance only, not financial or legal advice. Printed from ukanswers.co.uk.