Economic Review July 2026

Bank Rate held at 3.75%, June UK inflation dip, consumer confidence lifts but business confidence drops.

Key takeaways

• The Monetary Policy Committee voted 6–3 to leave Bank Rate unchanged at 3.75% at its July meeting
• The Consumer Prices Index (CPI) rose by less than expected – 2.6% in the year to June, down from 2.8% in May
• UK consumer confidence rise helped by Burnham ‘bounce’, weather and World Cup while business confidence dips