Bank Base Rates

Each month the Bank of England's Monetary Policy Committee meets to discuss issues surrounding the economy and in particular the likely effects on Inflation. At that meeting they also set the Minimum Lending Rate (MLR). This was originally introduced in 1974 and is the minimum rate of interest charged by the Bank of England to commercial banks should they need to borrow money. Changes to the MLR has the effect of determining changes in the rates of interest charged by commercial lenders when lending to businesses or to members of the public. The table gives details of the last 12 decisions regarding the MLR by the Bank of England. Each line shows the rate decision for the month, the arrows indicate whether the rate is different to the previous month's figure and if so in what direction.

Source: Bank of England.
The information on this page has been sourced from the Bank of England website. We do not represent that the information is accurate or complete, and it should not be relied upon as such.

Current Bank Base Rate

As at Oct/08 Index 5.00% Src: Bank Of Eng.

Bank Base Rate

Date Rate Aug 2008 5.00% Jul 2008 5.00% Jun 2008 5.00% May 2008 5.00% Apr 2008 5.00% Mar 2008 5.25% Feb 2008 5.25% Jan 2008 5.50% Dec 2007 5.50% Nov 2007 5.75% Oct 2007 5.75% Sep 2007 5.75%

Last Updated