Bank of England Raises Interest Rate to 4% as Energy Risks Intensify
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Dubai Telegraph - Bank of England Raises Interest Rate to 4% as Energy Risks Intensify
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Bank of England Raises Interest Rate to 4% as Energy Risks Intensify
The Bank of England increased Bank Rate by 0.25 percentage points to 4% in an 8-1 vote. UK inflation reached 3.5% in September and is projected to climb toward 5% by mid-2027 as higher global energy costs reach household and company bills.
The Bank of England increased Bank Rate by 0.25 percentage points to 4% in an 8-1 vote. UK inflation reached 3.5% in September and is projected to climb toward 5% by mid-2027 as higher global energy costs reach household and company bills.
Officials said second-round effects on wages and broader prices are still limited, but inflation pressure in the pipeline justified tighter policy. The bank stressed that future decisions are not predetermined and will depend on pay, pricing behavior and economic slack.
A.Krishnakumar--DT
