News in Review Wednesday 5th August 2026

Bank rate held at 3.75%, Budget confirmed, Burnham commits to social care reform, retail sales and private sector updates.

Key takeaways:

  • The Monetary Policy Committee voted 6–3 to leave Bank Rate unchanged at 3.75% at its July meeting
  • The Chancellor confirmed the next Budget for 28 October 2026, alongside an Office for Budget Responsibility forecast
  • Prime Minister Andy Burnham addressed social care reform in England and did not rule out tax rises to help fund changes