GBINTR March/2026
source: Bank of England
- The Bank of England unanimously voted to keep the Bank Rate at 3.75% in March 2026, as the conflict in the Middle East has caused a sharp rise in global energy and commodity prices, pushing up household fuel and utility costs and raising business expenses.
Prior to this shock, domestic prices and wages had been showing continued disinflation.
Recent data showed headline inflation at 0.1% in February, with medium-term pressures largely unchanged.
Higher energy prices are expected to push CPI to between 3% and 3.5% over the next few quarters, though a slowdown in economic activity from rising costs could limit second-round effects.
The Committee will continue to assess developments in the Middle East and global markets, ready to adjust policy as needed to maintain price stability and support sustainable growth.
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