Bank of England rate rise widely expected as inflation concerns persist

Economy · First reported 30 Oct, 11:00 · Updated 11:09

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Economists expect the Bank of England to raise its interest rate from 3.75% to 4%, with inflation, energy costs and possible wage pressures among the concerns cited. The centre report also says many economists expect policymakers to tighten monetary policy.

City analysts expect the Bank’s Monetary Policy Committee to raise rates from 3.75% to 4%; Deutsche Bank expects a 6–3 vote.
The article cites inflation above the Bank’s 2% target, elevated energy prices and concern about possible second-round inflation effects.
The centre report says many economists expect rate-setters to tighten monetary policy to address rising UK inflation.