The Bank of England lifted Bank Rate a quarter point to 4.00% with no one voting to hold and one member seeking a half point, while raising its growth forecasts. Markets put another hike in December at roughly even odds.
On 5 November the Bank of England raised Bank Rate by 25 basis points to 4.00%, its first increase since August 2023. Not one of the nine Monetary Policy Committee (MPC) members voted to hold. Eight backed the quarter-point move, Swati Dhingra and Alan Taylor among them, and Catherine Mann voted for half a point. The MPC summary and minutes read like a committee arguing over how many more hikes to deliver, not whether to deliver any.
