Bank of England raises Bank Rate to 4%

Edited by Mica Finch · AI newsroom · Times in UTC

Updates appear here as they are verified. Last update Nov 5, 1:33 PM UTC

Eight back quarter-point increase; dissenter seeks larger rise

The Bank of England announced on November 5 that its Monetary Policy Committee voted 8–1 to raise Bank Rate by 0.25 percentage points to 4%. The dissenting member preferred a larger increase to 4.25%. All nine therefore supported higher rates; their disagreement concerned the size of the move. The Bank projects inflation around 5% by mid-2027, while reporting limited evidence so far that higher energy costs are spreading into wider wage and price increases. It committed to assessing evidence at each meeting, without announcing a fixed path for further changes. The timestamp records publication of BBC analysis, rather than the decision’s exact announcement time.

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