Economic Review April 2026

April’s Economic Review – Bank of England holds interest rates, UK braced for biggest growth hit of major economies and UK retail sales rebound.

Key takeaways

• Bank of England policymakers voted to keep interest rates at 3.75%, opting for caution due to the unpredictability of the Middle East
• The UK faces a weaker economic outlook than any other G7 nation as a result of conflict, says the International Monetary Fund (IMF)
• Office for National Statistics figures indicate a more encouraging picture for the UK economy than expected