The April policy setting meeting of the Bank of England’s Monetary Policy Committee (MPC) saw the central bank leave the Bank Rate unchanged today, at 3.75%. This represents the third successive meeting where the official rate has been left unaltered. This outcome was very much in line with market expectations. The most recent rate cut from the BoE occurred at its December meeting, when it lowered the Bank Rate by 25bps. This represented the fourth 25bps rate cut from the BoE last year. The BoE has lowered rates by 150bps in total since August 2024.