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Bank of England raises interest rate to 4%

The rise, the first in more than three years, takes the Bank rate from 3.75% to 4%. The Bank warned that further increases may follow if the conflict in the Middle East continues.

Written by AI from 6 sources

Photo: The Standard

  • Bank of England policymakers raised the rate to 4% on Thursday, the first increase since August 2023. The Bank said further rises may be needed if the conflict in the Middle East is not resolved. The StandardThe StandardCNBCThe Independent

  • The Bank expects inflation to reach about 5% by the middle of 2027 before easing towards its 2% target in the third quarter of 2028. The StandardCNBCThe Guardian

  • The FTSE 100 rose one per cent to 10,927 in morning trading, while tracker mortgage holders face an average monthly increase of £30.72, according to UK Finance. The StandardCity AM