Bank of England MPC Bank Base Rate Decision - HOLD. Reaction from LHV Bank

30 April 2026

Alex Beavis, Interim Director of Retail Banking, LHV Bank comments:

“The Bank of England is kicking the can down the road, but households can’t afford to do the same. This base rate hold was expected by the markets, despite the backdrop of the continued uncertainty in the Middle East and the immediate impact it has had on inflation. While households are counting the cost already in terms of higher fuel costs, there will likely be a further knock-on impact in the months ahead as those raised energy costs feed into the price we pay for other items, such as food. Given the expected growth in inflation in the short term, at least one base rate rise this year looks inevitable.

“The fact that we are all looking at increased outgoings emphasises the need for people to make their money work harder. Now is the time to be proactive; no good can come from leaving cash languishing in a mediocre current account, given so many pay little if any interest, nor in savings accounts which fail to deliver inflation-beating returns.

“Global events, and the approach of the Bank of England, are beyond our control. However, we can control where we keep our money. Acting now, even in small ways like switching accounts, can deliver tangible improvements to your financial health within a short period.”