17:17 - 5.11.2026

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November 5, Fineko/abcnews. The Bank of England (BoE) raised its key policy rate by 25 basis points to 4.00% following rising energy costs linked to Middle East tensions. The decision was passed by an 8-1 majority vote.

The central bank projects inflation to peak at 4.9% in Q2 2027, prompting warnings of potential further rate hikes if energy pressures persist. Concurrently, the BoE upgraded the UK’s GDP growth forecast for 2026 from 1.1% to 1.6%.