Bank of England Widely Expected to Hike Rates Today Amid Inflation Pressures

Economists polled by Reuters widely anticipate that the Bank of England's Monetary Policy Committee will vote 7-2 to increase the Bank Rate to 4% from 3.75% on Thursday, November 5, 2026. This would mark the first interest rate hike by the BoE in three years, with the decision driven by escalating inflation pressures, particularly those stemming from the US-Iran conflict. This move aligns the Bank of England with other major central banks that have already tightened monetary policy.