The Newshound

The Bank of England is expected to hike interest rates to 4% on Thursday in its first rise since 2023

Inflation hitting 3.5% in September — its highest in 11 months and well above the Bank's 2% target — has forced the Monetary Policy Committee's hand, with financial markets now fully pricing in a quarter-point rise on Thursday. Higher petrol prices driven by Middle East conflict and a 3.6% October energy price cap rise have been the main culprits, with a further 22% energy bill increase forecast for January.

The rate rise would be the first since August 2023, lifting the base rate from 3.75% to 4%.

MoreGB NewsBank of England tipped to raise interest rates this week for first time since 2023Financial TimesBank of England set to raise rates to 4% in push to quell inflationReutersBank of England poised to raise rates but may push back on bets for moreMorningstarWill the Bank of England Raise Interest Rates to 4% This Week? - Morningstar
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