Bank of England holds rates, while three members back a rise

The Bank of England kept its main interest rate at 3.75% in September. The decision was not unanimous: six members voted to hold, while three preferred to raise the rate to 4%.

The committee said the risks to its inflation outlook had shifted higher, while also noting that events in the Middle East could change the picture. A hold means the rate stayed the same at this meeting; it does not tell us what the next decision will be.

For households and businesses, the rate influences the cost of borrowing and the return on some savings. The effect on any particular mortgage or loan depends on its terms and the lender.