🏦 BANK OF ENGLAND HIKES RATES TO 4% — FIRST RISE SINCE 2023
The Bank of England raised its benchmark rate by 25 basis points to 4.00% on Thursday — its first hike since August 2023.
📊 The key numbers:
• Bank Rate: 3.75% → 4.00%
• MPC vote: 8-1 in favour (Catherine Mann wanted a bigger hike to 4.25%)
• UK inflation: 3.5% in September — the Bank expects it near 5% by mid-2027
Governor Andrew Bailey warned more hikes could follow if the US-Iran conflict keeps pushing energy prices higher. The next decision is due December 17.
#BankOfEngland #InterestRates #UK #Inflation #CentralBank #Finance #Markets #Zimbuck
The Bank of England raised its benchmark rate by 25 basis points to 4.00% on Thursday — its first hike since August 2023.
📊 The key numbers:
• Bank Rate: 3.75% → 4.00%
• MPC vote: 8-1 in favour (Catherine Mann wanted a bigger hike to 4.25%)
• UK inflation: 3.5% in September — the Bank expects it near 5% by mid-2027
Governor Andrew Bailey warned more hikes could follow if the US-Iran conflict keeps pushing energy prices higher. The next decision is due December 17.
#BankOfEngland #InterestRates #UK #Inflation #CentralBank #Finance #Markets #Zimbuck
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