EconomyBank of England raises rates to 4% for first time in more than three years
The Bank of England raised its base rate from 3.75% to 4% to tackle rising inflation, which the Iran war has intensified by driving up energy costs. It expects UK inflation to reach 4.9% by the middle of next year. Governor Andrew Bailey said another increase remains possible if the Middle East conflict continues, but the move does not signal an inevitable run of rate rises.
TThe Guardian★★★☆☆2026-11-05 12:00Original
Bank of England raises rates to 4% for first time in more than three years
Economy