# Bank of England raises rates by quarter point as pound reaches post-Brexit high

- URL: https://talkfuse.com/story/pound-hits-highest-level-since-brexit-vote-with-bank-of-england-expected-to-raise-interest-rates-today-business-live/
- Published: 2026-11-05T12:19:28+00:00
- Updated: 2026-11-05T12:29:27+00:00
- Original publisher: The Guardian (publisher lean: Left)
- Original article: https://www.theguardian.com/business/live/2026/nov/05/bank-of-england-interest-rate-decision-pound-inflation-oil-iran-stock-markets-latest-news-updates
- Topics: Business, Economy, Elections, Government, Markets, Politics, UK, World

## Key points

- Bank Rate rose by a quarter point.
- Eight policymakers backed the increase.
- Catherine L Mann called for a half-point rise.

## Summary

The Bank of England has raised interest rates by a quarter of a percentage point, with eight of its nine policymakers backing the move. The decision reflects concern that higher energy prices will feed through into inflation, while the pound has reached its highest level since the Brexit vote.

The dissenting member, Catherine L Mann, wanted a larger, half-point increase, citing risks that high food and energy costs could shape wage demands and prolong inflation. The committee said evidence of these second-round effects remained limited but would need close monitoring; UK inflation was 3.5% in September.

## Coverage

- [The Guardian: Bank of England raises rates by quarter point as pound reaches post-Brexit high](https://www.theguardian.com/business/live/2026/nov/05/bank-of-england-interest-rate-decision-pound-inflation-oil-iran-stock-markets-latest-news-updates)
- [The Guardian: Pound hits highest level since its crash after 2016 Brexit vote](https://www.theguardian.com/business/2026/nov/05/pound-hits-highest-level-since-2016-brexit-vote)
- [City AM: Bank of England hikes interest rates to four per cent in unanimous vote](https://www.cityam.com/interest-rates-hiked-to-four-per-cent-in-unanimous-vote/)

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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.