{
  "id": 17710141,
  "title": "Bank of England poised to raise rates but may push back on bets for more",
  "url": "https://urgent.news/2026/11/02/bank-of-england-poised-to-raise-rates-but-may-push-back-on-bets-for",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-02T00:06:22.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/economy-news/bank-of-england-poised-to-raise-rates-but-may-push-back-on-bets-for-more-4989788"
  },
  "original_language": "en",
  "account": "The Bank of England is set to increase interest rates on Thursday, in response to rising energy costs and inflation, according to Reuters sources. However, the central bank may refrain from further rate hikes, despite market expectations of multiple increases next year. Economists polled by Reuters anticipate the Bank Rate to rise to 4.0% from 3.75%, marking the bank's first rate hike since August 2023. The Bank of England feared underestimating the persistence of inflation during the last energy cost surge and is wary of repeating the same mistake. This time, the US Federal Reserve and the European Central Bank have already raised rates. The Monetary Policy Committee, led by governor Andrew Bailey, has struggled to reach a consensus on the number of additional hikes, with six members voting to hold rates steady in September. Bailey stated that the Bank cannot wait for conclusive proof of second-round effects, as higher inflation can lead to wage and price-setting. However, the extent of evidence required and the inevitability of second-round effects due to the Iran war have divided the committee. Inflation has exceeded expectations, with consumer prices rising 3.5% in the year to September, compared to the central bank's July forecast of 3.0%. Despite the pressures, economists believe that the Bank of England may have little choice but to act, as their hands are increasingly being forced by market pricing.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Bank of England poised to raise rates but may push back on bets for more",
        "url": "https://urgent.news/2026/11/02/bank-of-england-poised-to-raise-rates-but-may-push-back-on-bets-for-17712675",
        "published": "2026-11-02T00:33:07.000Z"
      },
      {
        "outlet": "New Straits Times",
        "title": "Bank of England poised to raise rates but may push back on bets for more",
        "url": "https://urgent.news/2026/11/02/bank-of-england-poised-to-raise-rates-but-may-push-back-on-bets-for-17713768",
        "published": "2026-11-02T00:45:39.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}