The BoE's Monetary Policy Committee (MPC) sets the Bank Rate, the interest paid to commercial banks that hold money with the BoE (Bank of England - Bank Rate). As of the launch of this question, the MPC's August 2025 monetary policy meeting announcement is scheduled for 7 August 2025, and its most recently announced Bank Rate was 4.50% (Bank of England - Monetary Policy Summary 20 March 2025, Bank of England - Monetary Policy Committee Calendar). If the BoE announces a range, the question will close using the midpoint of the stated range (e.g., an announced range of 2.00% and 2.25% would close based on 2.125%). The date the change will take effect is immaterial.

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