Afin Bank Base Rate comment

19 March 2026

Following today's base rate announcement by the Bank of England, Charles Resnick, Chief Finance Officer at Afin Bank, commented:

“Today’s decision to hold interest rates was no surprise given soaring energy prices caused by the war in the Middle East. However, timing for the next cut is now more uncertain and will depend on how long the price shock lasts.

“Minutes from February’s meeting showed that the MPC expected inflation to fall back to its 2% target from April, but the rise in oil and gas prices has made the near-term inflation outlook more uncertain. The Monetary Policy Committee could still cut the Base Rate next month or it could remain on pause for even longer.

“Although we have already seen some fixed rate mortgage deals being pulled from the market, overall lenders are likely to remain disciplined and cautious, reflecting uncertainty over the timing of the next cut.”