Bank of England set to raise UK interest rates to 4% today
Briefing by News4U · First published
The Bank of England is widely expected to raise its benchmark rate by a quarter point to 4% at noon today, its first hike in more than three years, with markets pricing a 98% chance of the move. Most policymakers are expected to support the increase to counter rising inflation and higher energy costs, with analysts forecasting an 8-1 vote and only Alan Taylor dissenting. The Bank has not raised rates since August 2023, when the rate reached 5.25%. [1] [2]
Sources
- Bank of England expected to raise interest rates for first time in three years today – business live
The Guardian Business · · Full text
- BOE Set to Hike Rates for First Time Three Years
Bloomberg · · Summary only