Bank of England lifts rate to 4% as energy costs climb
Source: Bank of England, "Bank rate increased to 4% - November 2026 Monetary Policy Summary and Minutes", published 5 November 2026.
What the source says
Bank Rate raised 0.25 points to 4% on an 8 to 1 vote, one member wanting 4.25%. CPI was 3.5% in September and is expected near 5% by mid-2027 as energy prices climb.
Allbase view
Interest rates are up again, with Brent at USD 108/bbl and gas at 216p/therm behind the Bank's inflation outlook. Both feed resin, bitumen and coating costs, so expect producer price notices to follow in the coming months.
Our reading of the release, not a statement from the source. Checked against the release on 10 Nov 2026.
Figures from this release
- Bank of England: UK front-month gas futures averaged 216p/therm, 15 working days to 27 Oct 2026p/therm · 15 UK working days to 27 Oct 2026216Up
- Bank of England: front-month Brent futures averaged USD 108/bbl, 15 working days to 27 Oct 2026USD/bbl · 15 UK working days to 27 Oct 2026108Up
- Bank of England Bank Rate +0.25 points to 4% from 5 Nov 20264%Up
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