{
  "id": 17737604,
  "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-17737604",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-02T02:58:58.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40447002/bank-of-england-poised-to-raise-rates-but-may-push-back-on-bets-for-more"
  },
  "original_language": "en",
  "account": "The Bank of England is set to raise interest rates on Thursday in response to the increasing pressure from soaring energy costs, despite concerns that several more hikes could be delayed in the coming year. Economists polled by Reuters anticipate the Bank Rate to be increased to 4.0% from its current 3.75%, marking the first hike since August 2023 when inflation was still more than triple the central bank's 2% target. The Bank of England's Governor Andrew Bailey has stated that waiting for conclusive proof of second-round effects, where higher inflation feeds into wage- and price-setting, would result in acting too late. However, the extent of the evidence required to act and the impact of the ongoing Iran war on second-round effects have divided the Monetary Policy Committee. The BoE had previously warned that inflation would exceed 4% early next year, and the recent spike in energy prices has been compared to the bank's \"adverse\" scenario. Inflation has outpaced the BoE's predictions, with consumer prices rising 3.5% in the year to September, compared to the July forecast of 3.0%. While some members of the Monetary Policy Committee have criticized the bank for underestimating the persistence of inflation, others remain cautious about endorsing market pricing for three to four more quarter-point hikes in 2027, which would push Bank Rate to between 4.75% and 5.0%. The Bank of England is expected to provide further hints about its future rate outlook through statements from individual committee members, particularly the internal members whose views have been closely balanced. Recent economic forecasts and the upcoming budget from the finance minister will also be closely examined for clues to the central bank's future actions.",
  "summary": "MANCHESTER: The Bank of England is expected to bow to inflation pressure from soaring energy costs and raise interest rates on Thursday, though it may push back against investors’ bets that several more increases will follow next year. Economists polled by Reuters expect the BoE to raise Bank Rate to 4.0% from 3.75%, its first hike since August 2023, when inflation was still more than triple its…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "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",
        "published": "2026-11-02T00:06:22.000Z"
      },
      {
        "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."
}