🏦 BREAKING: The Bank of England has raised interest rates to 4% — its first hike in over three years.
The Monetary Policy Committee voted 8–1 to lift Bank Rate by 25 basis points, from 3.75% to 4.00%. Catherine Mann dissented, calling for a bigger 50bp rise to 4.25%.
The Bank warned inflation could reach around 5% by the middle of next year — more than double its 2% target — and signalled at least one more increase is likely if the US–Iran conflict continues.
📊 Key numbers:
• Bank Rate: 3.75% → 4.00%
• MPC vote: 8–1
• UK CPI: 3.5% (September)
• Inflation seen ~5% by mid-2027
#BankOfEngland #InterestRates #UK #Inflation #Economy #Finance #Markets #Zimbuck
The Monetary Policy Committee voted 8–1 to lift Bank Rate by 25 basis points, from 3.75% to 4.00%. Catherine Mann dissented, calling for a bigger 50bp rise to 4.25%.
The Bank warned inflation could reach around 5% by the middle of next year — more than double its 2% target — and signalled at least one more increase is likely if the US–Iran conflict continues.
📊 Key numbers:
• Bank Rate: 3.75% → 4.00%
• MPC vote: 8–1
• UK CPI: 3.5% (September)
• Inflation seen ~5% by mid-2027
#BankOfEngland #InterestRates #UK #Inflation #Economy #Finance #Markets #Zimbuck
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