UK inflation

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Bank of England Raises Interest Rates to 4% in First Hike Since 2023

The Bank of England raises interest rates to 4% on Thursday 5 November 2026, the first increase in borrowing costs since August 2023. The Monetary Policy Committee voted 8-1 for the quarter-point rise, with one member backing a bigger half-point move, as the Bank warned inflation could reach around 5% by the middle of next year. The decision was announced…