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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

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  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

    Healey's first Budget doubles the bank surcharge to fund £100 energy payments

    Chancellor John Healey's Budget on 28 October also raised tax on savings and property income. The OBR cut its 2027 growth forecast to about 1% and said inflation would average 3.5% that year.

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