UK interest rates: Bank of England expected to raise them for first time in over three years
A BBC article by Kevin Peachey says the Bank of England is expected to raise interest rates from 3.75% to 4% at its Thursday decision — the first increase since August 2023 — as UK inflation climbed to 3.5% in September, driven by petrol, diesel and the Iran war's effect on energy costs. Analysts quoted expect the rise to hit borrowers, including a £31 monthly increase for typical tracker mortgages, while savers could see better rates, and CMC Markets' Chris Cheverall says the decision is now less about reaching 4% than what follows.
