Bank Of England May 2026

: Economic growth remains subdued, with forecasts for 2026 revised down to roughly 0.5%–0.7% . Many economists view "stagflation"—low growth combined with high inflation—as a high risk for the UK.

: UK Consumer Prices Index (CPI) inflation rose to 3.3% in March 2026 , up from 3.0% in February, driven primarily by fuel prices. bank of england

: Analysts largely expect another "hold" at 3.75% as the Bank assesses the impact of the ongoing Iran war on fuel and utility costs. Economic Outlook and Inflation : Economic growth remains subdued, with forecasts for

: Wage growth has moderated but remains a watchpoint; private sector settlements are expected to average 3.4% in 2026 . Financial Stability and Risk Management Interest rates and Bank Rate: our latest decision : Economic growth remains subdued