Skip to content
Latest
Markets at the closeAs of close, Nov 13, 2026Nasdaq −0.9% · S&P 500 −0.4% · Dow +0.1%Japan's GDP and China's October Data Open the Week Before Monday's Empire State Survey and Warsh RemarksBitcoin Falls to $62,112 in Sunday Trading, Its Lowest Since JulyBahrain Says It Intercepted Iranian Attacks; Brent Last Settled at $95.84 After IEA Surplus ReportHow a Spot Bitcoin ETF Works, and What 'Net Withdrawals' MeanHow to Read a Preliminary GDP Estimate, With Japan's Third Quarter as the Example15-Year vs. 30-Year Mortgage: What a 6.45 Percent and a 7.11 Percent Rate Cost on $300,000
Yield Update
Subscribe
EconomyPast Article

Bank of England Raises Bank Rate to 4%, Its First Increase in More Than Three Years

The Monetary Policy Committee voted 8–1 for a quarter-point increase, with one member preferring half a point. It cited energy prices from the Middle East conflict. The Fed's range is 3.75 to 4 percent.

By Nadine Okonkwo, Global Macro Correspondent

London2 min read

The bank of england building is visible
The Bank of England building in the City of London.Photo by Sue Winston on Unsplash

The Bank of England raised Bank Rate by 0.25 percentage points to 4 percent on Thursday, November 5, 2026. It was the first increase in more than three years. The Monetary Policy Committee voted 8–1, according to the November Monetary Policy Summary. Catherine Mann voted for a half-point increase, to 4.25 percent.

Andrew Bailey, Sarah Breeden, Swati Dhingra, Megan Greene, Clare Lombardelli, Huw Pill, Dave Ramsden and Alan Taylor voted for the quarter point. The meeting ended November 4. The next decision is due December 17.

What the Bank said

The summary names energy. "The conflict in the Middle East is now in its ninth month. Global energy prices have continued to rise from an already elevated level," the Committee wrote. UK consumer price inflation rose to 3.5 percent in September. The Bank now expects it to rise to around 5 percent by the middle of next year and then fall as the energy effect drops out of the 12-month rate.

Subscriber content

This story is in the archive

Create a free account to read one article a day, or subscribe for full access.

SubscribeCreate account

Already have an account? Log in

See an error? Request a correction.