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The windowless stone wall of the Bank of England Steve Daniels, CC BY-SA 2.0

Bank of England raises interest rates to 4% as energy prices push inflation higher

The Bank's first rate rise since 2023 was backed by all nine policymakers on 5 November, and one wanted a bigger increase. Staff expect inflation to reach about 5% by the middle of next year.

Business Comlumen Desk 3 min read

Timeline

  1. Business

    Bank of England raises interest rates to 4% as energy prices push inflation higher

    The Bank's first rate rise since 2023 was backed by all nine policymakers on 5 November, and one wanted a bigger increase. Staff expect inflation to reach about 5% by the middle of next year.

  2. Business

    ECB holds rates as Lagarde says she will step down nine months early

    The European Central Bank kept its deposit rate at 2.5% on 29 October, the same day its president said she would leave on 7 February. A week later, euro zone inflation reached 4%.

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