What is the current base rate? The current BoE (Bank of England) base interest rate is 5.25%, after the Monetary Policy Committee took the decision to maintain the current rate on 21March 2024.. The majority of the bank’s nine-person rate-setting committee voted this week to hold rates at 5.25 percent, the highest since early 2018 and where they have been for nine months.
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Mortgage rates look unlikely to improve in the short-term. Since the base rate was last held, new variable-rate mortgages have remained largely unchanged, while fixed-rate deals have increased in cost – the cheapest open market two-year fix is currently 4.77%, compared to 4.53% on 21 March 2024.. 2025 provisional dates. Thursday 6 February. February MPC Summary and minutes and February Monetary Policy Report. Thursday 20 March. March MPC Summary and minutes. Thursday 8 May. May MPC Summary and minutes and May Monetary Policy Report. Thursday 19 June. June MPC Summary and minutes.
