Bank of England raises rates to 4% with 5% inflation forecast

Community Trust Score Verified 91 % Real Verified 11 votes Updated 11 hours ago The Bank of England raised its benchmark interest rate by 25 basis points to 4% on Nov. 5, citing a prolonged energy shock that increased inflation concerns. The decision was supported by eight policymakers, while Governor Catherine Mann advocated for a larger 50-basis-point increase to 4.25%. The central bank’s move follows a September consumer-price inflation reading of 3.5% and projects UK inflation to reach approximately 5% in the second quarter of 2027.

Source: The Currency Analytics