{
  "id": 18247961,
  "title": "Bank of England poised to raise rate as inflation jumps",
  "url": "https://urgent.news/2026/11/05/bank-of-england-poised-to-raise-rate-as-inflation-jumps",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-05T02:45:00.000Z",
  "source": {
    "name": "Bangkok Post Business",
    "slug": "bangkok-post-business",
    "url": "https://www.bangkokpost.com/business/general/3349140/bank-of-england-poised-to-raise-rate-as-inflation-jumps"
  },
  "original_language": "en",
  "account": "The Bank of England is set to increase its benchmark interest rate for the first time in over three years on Thursday, according to reports. This move comes as soaring energy costs and global inflation drive up borrowing costs. The Bank is expected to raise rates by a quarter point to 4.0%, aligning its policies with those of the US Federal Reserve and European Central Bank. The recent conflict in the Middle East, including Ukraine's strikes on Russian refineries and the US-Iran war, has led to record-high diesel prices worldwide. Danni Hewson, head of financial analysis at AJ Bell, noted that borrowers are anticipating at least one interest rate hike this year due to consumer confidence being shaken by the ongoing crisis. The Bank of England's last rate increase was in August 2023, and it has maintained a cost of borrowing at 3.75% since December. Official data revealed that Britain's annual inflation rate surged to 3.5% in September, primarily due to surging fuel prices. Experts predict that UK inflation could reach around four percent in the coming year, potentially resulting in higher energy bills for millions of Britons. The Bank will also share its latest forecasts for UK economic growth and inflation, which are expected to align with recent estimates from the country's Labour government and the International Monetary Fund. Both entities forecast British economic growth this year, with a slowdown expected in 2027. Analyst George Buckley of Nomura expects the Bank to revise its growth and inflation forecasts upward, but higher energy prices may ultimately hinder growth projections in the long term.",
  "summary": "LONDON - The Bank of England is expected to raise its benchmark interest rate on Thursday for the first time in more than three years as soaring energy costs push up global inflation.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Bank of England set to raise rate as inflation jumps",
        "url": "https://urgent.news/2026/11/05/bank-of-england-set-to-raise-rate-as-inflation-jumps",
        "published": "2026-11-05T02:58:47.000Z"
      },
      {
        "outlet": "City AM",
        "title": "City searching for signals as Bank of England set to hike interest rates",
        "url": "https://urgent.news/2026/11/05/city-searching-for-signals-as-bank-of-england-set-to-hike-interest",
        "published": "2026-11-05T04:00:00.000Z"
      },
      {
        "outlet": "Winnipeg Free Press",
        "title": "Bank of England set to hike interest rates to tackle higher inflation caused by Iran war",
        "url": "https://urgent.news/2026/11/05/bank-of-england-set-to-hike-interest-rates-to-tackle-higher-inflation",
        "published": "2026-11-05T05:12:28.000Z"
      }
    ]
  },
  "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."
}