Bank of England holds Bank Rate at 3.75% for a fifth meeting as inflation risks push back rate-cut hopes

The Bank of England held Bank Rate at 3.75% on 30 July, its fifth hold running, with a minority of the committee again pushing for a rise. With CPI at 2.6% in June and set to peak near 3.2% later this year, sticky services and energy costs are keeping the Bank cautious. For buyers, that means little near-term relief on mortgage pricing, as fixed deals track swap rates rather than fall; for sellers, demand stays rate-sensitive, so realistic pricing matters. A pause is not a hike, and cuts later in 2026 are not off the table.