“For borrowers, stability is valuable in itself.” UTB’s Buster Tolfree Comments on The MPC’s Decision to Hold Bank Rate

30 July 2026

The Bank of England’s Monetary Policy Committee has decided to keep Bank Rate at 3.75%.

Buster Tolfree, Managing Director – Mortgages, BTL and Bridging – United Trust Bank comments:

"Holding Bank Rate at its current level is the right decision given the level of uncertainty facing the UK economy. While inflation has eased significantly, there remain a number of domestic and international factors which could influence the outlook over the coming months, from ongoing geopolitical tensions to a new Government still setting out its economic agenda.

“For borrowers, stability is valuable in itself. A hold gives households, businesses and lenders greater confidence to plan ahead without introducing further uncertainty while the wider picture becomes clearer. The mortgage market has remained competitive and, provided inflation continues to move in the right direction, we would expect lenders to remain focused on supporting customers with competitive products and good service. Today's decision provides a period of welcome stability while policymakers assess how these known and unknown risks develop."