Bank of England raises rates to 4% as it forecasts inflation near 5% next year
Photo: CryptoSlate
The Bank of England raised its benchmark interest rate by 25 basis points to 4% on Nov. 5 as a prolonged energy shock increased its inflation concerns. The move highlights a potential source of pressure on Bitcoin investors exposed to sterling borrowing. Bank of England decision Eight policymakers backed the increase, while Catherine Mann preferred a larger, 50-basis-point move to 4.25%. The Bank projected UK consumer-price inflation around 5% in the second quarter of 2027, following September's 3.5% reading.
Also reported by The Currency Analytics.
Source: CryptoSlate
