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Showing posts with the label UK economy

The Bank of England Raised Rates for the First Time in Three Years — Because Energy Prices Left It Little Choice

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NEWJIN MEDIA Monday, November 9, 2026 Economy · United Kingdom Bank Rate 4% Bank of England Raises Rate to 4% as Energy Drives Inflation Bank Rate is now 4%. Inflation, at 3.5% in September, is heading for about 5% by the middle of 2027 — and the January energy bill is the next test. NEWJIN MEDIA · November 9, 2026 01 The Bank of England on Threadneedle Street, London. Archive photo. DAVID ILIFF · Original · CC BY-SA 3.0 Bank Rate 4.00% Up from 3.75% on November 5, 2026. First rise since August 2023; MPC voted 8–1. UK inflation 3.5% Consumer prices, September 2026. The Bank’s target is 2%. Projected peak ~5% Expected by mid-2027, driven by energy. Return to 2% projected for Q3 2028. Bank of England, November 2026 Monetary Policy Summary. 01 The decision The decision The Bank of England raised Bank Rate to 4% on 5 November 2026, its first rise since 2023, as energy prices push UK inflation toward 5%. Its Monetary Policy Committee voted 8–1 ...

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