The Bank of England’s Monetary Policy Committee (MPC) sets the UK base rate, which is currently 0.75.

The MPC meets eight times a year, with members voting on whether to lower, raise, or maintain the current base rate.

You can check out the history of the UK base rate in the chart below, or check out our resources to learn more about how interest rates affect your everyday finances and investments.

• How do interest rates affect the housing market?

• How do interest rates affect the stock market?

• The history of the UK base rate