Bank of England Raises Rate to 4% as It Projects UK Inflation Near 5% by Mid-2027
The Bank of England raised its main rate by a quarter point to 4% on Thursday, its first hike since 2023, with eight of nine policymakers in favor. Governor Andrew Bailey signaled more may follow. The BoE expects UK inflation near 5% by mid-2027. The Fed held a week earlier, leaving US rates at 3.75% to 4%.
