Bank of England expected to raise rates Nov. 5, but may temper bets on more hikes

Economists expect the Bank of England to lift its rate from 3.75% to 4% on Nov. 5, its first increase since August 2023. Higher energy costs are adding inflation pressure ahead of wage negotiations, and the bank warned inflation would exceed 4% early next year. After a 6-3 vote to hold rates in September, it may temper investors’ expectations for several more hikes next year.