# Bank of England set to rise interest rates for first time since 2023

- URL: https://talkfuse.com/story/bank-of-england-set-to-rise-interest-rates-for-first-time-since-2023/
- Published: 2026-11-01T09:21:16+00:00
- Updated: 2026-11-01T10:38:37+00:00
- Original publisher: The Independent (publisher lean: Left)
- Original article: https://www.independent.co.uk/news/uk/politics/interest-rates-increase-bank-of-england-b3077035.html
- Topics: Business, Economy, Politics, UK, World

## Key points

- A rise to 4% is widely expected on 5 November.
- September inflation reached 3.5%, above the Bank’s 2% target.
- Higher energy costs could keep price pressures elevated.

## Summary

The Bank of England is widely expected to raise its key interest rate from 3.75% to 4% on 5 November, which would be its first increase since August 2023. The move would make borrowing more expensive and is being considered as inflation moves further above the Bank’s 2% target.

CPI inflation reached 3.5% in September, its highest in 11 months, amid higher fuel costs linked to conflict in the Middle East. The energy price cap rose 3.6% in October and is forecast to increase by a further 22% in January. The Bank will also weigh economic signs including 0.1% growth in August and unemployment of 4.7% in the three months to August.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.