BoE hikes rates to 4%, signals more to come amid Iran war pressure

Daily Sabah · Agencies · 2026-11-05 12:24 UTC

The Bank of England (BoE) raised interest rates for the first time in more than three years on Thursday in a bid to tackle the surge in prices amid the...

The Bank of England (BoE) raised interest rates for the first time in more than three years on Thursday in a bid to tackle the surge in prices amid the Iran war, as it signaled more hikes are on the way if the conflict is not resolved.

The Monetary Policy Committee (MPC), in an 8-1 vote, decided to increase the bank’s base rate to 4% from 3.75%.

It is the first time that borrowing costs have gone up since August 2023.

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