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When is the next MPC meeting?

The next MPC (Monetary Policy Committee) meeting will be on Thursday, May 8, 2025.

The Monetary Policy Committee (MPC) of the Bank of England (BoE) meets eight scheduled times a year to discuss and set monetary policy, primarily focusing on interest rates and other tools to control inflation and support economic stability.

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What is the MPC?

The Monetary Policy Committee (MPC) is a key decision-making body within the Bank of England responsible for setting monetary policy to achieve price stability and economic growth in the UK.

What is the role of the Monetary Policy Committee?

The MPC's primary objective is to control inflation, keeping it close to the government's 2% target. To achieve this, the committee adjusts interest rates and employs other policy tools such as quantitative easing (QE) and quantitative tightening (QT). These tools influence liquidity and financial conditions in the economy, helping the BoE respond effectively to different economic scenarios.

What date is the next Bank of England MPC meeting?

The Bank of England's next MPC meeting will take place on Thursday, June 19th.

See below for the all the BoE's scheduled MPC meetings in 2025:

  • Thursday, 6 February 2025
  • Thursday, 20 March 2025
  • Thursday, 8 May 2025
  • Thursday, 19 June 2025
  • Thursday, 7 August 2025
  • Thursday, 18 September 2025
  • Thursday, 6 November 2025
  • Thursday, 18 December 2025

Each meeting concludes with a 12:00 UTC announcement, publishing meeting minutes, a Monetary Policy summary, and any decisions regarding interest rates. These dates are confirmed by the Bank of England.

How often do the Monetary Policy Committee meet?

The Monetary Policy Committee meets eight times a year, approximately every six weeks.

Each meeting follows a set schedule, during which the committee reviews economic data, discusses monetary policy, and votes on interest rates and other financial measures. The decisions are then announced at 12:00 UTC on the final day of the meeting, along with meeting minutes and economic projections. Additionally, the Monetary Policy Report is published quarterly, providing a comprehensive analysis of economic conditions and the outlook for inflation

Who is on the Monetary Policy Committee?

The Monetary Policy Committee is comprised of nine members, each with expertise in the field of economics and monetary policy. As of February 2025, the MPC consists of:

  • Governor:
    • Andrew Bailey
  • Deputy Governors:
    • Sarah Breeden – Deputy Governor for Financial Stability
    • Clare Lombardelli – Deputy Governor for Monetary Policy
    • Sir Dave Ramsden – Deputy Governor for Markets and Banking
  • Chief Economist:
    • Huw Pill
  • External Members:
    • Dr. Swati Dhingra
    • Megan Greene
    • Dr. Catherine L. Mann
    • Professor Alan Taylor

External members are appointed to ensure the MPC benefits from diverse perspectives and expertise from outside the Bank. A representative from HM Treasury also attends MPC meetings to provide insights into fiscal policy developments, though they do not have voting rights. For the most current information on MPC members, you can refer to the Bank of England's official website.

What is the Bank of England Base Rate?

The Bank of England's current Base Rate is 4.25%.

See more here: When is the next BoE interest rate decision?


This publication is intended for general information purposes only and should not be construed as financial, legal, tax, or other professional advice from Equals Money PLC or its subsidiaries and affiliates.

It is recommended to seek advice from a financial advisor, expert, or other professional. We do not make any representations, warranties, or guarantees, whether expressed or implied, regarding the accuracy, or completeness of the content in the publication.

How can the next MPC Meeting affect your business?

An interest rate cut typically weakens GBP, which could have significant implications for businesses with an international footprint:
Currency exposure on payments: If your business has payables or receivables in GBP, the resulting currency swings could significantly impact your bottom line.
Overseas profit repatriation: Currency swings caused by rate cuts can impact the value of your business’ profits being repatriated — potentially reducing profit margins.
Competitiveness in global markets: If you export to the UK, a weaker GBP could affect competitiveness and make you more expensive to local customers. Similarly, UK exporters may become cheaper and undercut your pricing abroad.
Protect your bottom line with hedging
Rate decisions may be beyond your control — but how you manage currency volatility isn’t.

By implementing a hedging strategy, your business can mitigate FX risk.
Now Future
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Holding interest rates steady doesn’t mean FX markets stand still. Market expectations, economic data, and geopolitical factors can all drive volatility in GBP:
Budgeting uncertainty: No rate change can often prolong uncertainty in the currency markets, making it difficult to forecast cross-border costs and revenues.
Market-driven FX fluctuations: Sometimes, held rates can trigger just as much movement as a hike or cut (especially if markets were expecting a shift). Surprise decisions or cautious BoE or MPC statements can weaken or strengthen GBP unexpectedly.
Increased sensitivity to external events: Markets may become more reactive to inflation reports, political developments, etc – all of which can cause FX volatility.
Protect your bottom line with hedging
Rate decisions may be beyond your control — but how you manage currency volatility isn’t.

By implementing a hedging strategy, your business can mitigate FX risk.
Now Future
Get a forward contract
An interest rate hike typically strengthens GBP, which could have significant implications for businesses with global operations:
Currency exposure on payments: If your business has payables or receivables in GBP, the resulting currency swings could significantly impact your bottom line.
FX costs in global supply chains: A stronger GBP can increase import costs or reduce export competitiveness of overseas markets (depending on which side of the currency movement you're on).
Cash flow planning: Volatile currency movements can disrupt forecasts, making it harder to manage cash flow, budget accurately, or set pricing in international markets.
Protect your bottom line with hedging
Rate decisions may be beyond your control — but how you manage currency volatility isn’t.

By implementing a hedging strategy, your business can mitigate FX risk.
Now Future
Get a forward contract

See more events affecting the market

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