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Economics

Bank of England raises interest rates to 4%

Major outlets report that the Bank of England raised interest rates to 4% in its first hike in over three years, while warning that inflation will reach around 5%.

Reviewed by Emmanuel Nyame
Nov 5, 2026 · 5 sources · 1 min read
Bank of England Building, London, UK - Diliff
Photo · Diliff / Wikimedia Commons · CC BY-SA 3.0 · shown in black and white

At a glance

  • The Bank of England increased its main interest rate to 4%.24
  • The decision represents the central bank's first rate increase in over three years.13
  • Central bank forecasts warn that inflation could climb to around 5%.13

The Bank of England has raised interest rates to 4%.24

This action is the central bank's first rate hike in over three years.13

Policymakers warned that inflation is projected to climb to approximately 5%.13

Where sources agree

  • Bank of England raised interest rates to 4%5 of 5
  • First interest rate increase in over three years3 of 5
  • Inflation predicted to reach around 5%2 of 5

Who covered this

4 International1 National

Sources

  1. 1The GuardianToday’s UK interest rate rise unlikely to be the last unless Iran war ends, Bank of England warns – business live ↗
  2. 2BBC NewsInterest rates hiked to 4% in first increase in over three years ↗
  3. 3The New York TimesBank of England Raises Rates for First Time in Three Years ↗
  4. 4The GuardianInterest rate rise in midst of cost of living crisis will leave many incredulous ↗
  5. 5BBC NewsThree ways the interest rate rise could affect you ↗

Based on reporting from these reputable newsrooms and reviewed by Orbit’s editors. A fact appears only when at least two sources report it. Orbit is not affiliated with these publishers.

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