# Bank of England raises Bank Rate to 4% on an 8–1 vote

> The Monetary Policy Committee raised Bank Rate by 0.25 percentage points to 4% at its meeting ending on 4 November 2026. One member, Catherine Mann, voted for a larger rise to 4.25%.

- Canonical URL: https://forextradingcommunity.com/news/bank-of-england-raises-bank-rate-to-4-percent-november-2026/
- Type: Central banks
- Published: 2026-11-06
- Updated: 2026-11-06
- Publisher: Forex Trading Community (https://forextradingcommunity.com), FTC Editorial Team
- Currencies: GBP

The Bank of England's Monetary Policy Committee (MPC) voted by a majority of 8–1 to increase Bank Rate by 0.25 percentage points, to 4%, at its meeting ending on 4 November 2026. One member voted to increase Bank Rate by 0.5 percentage points, to 4.25%. The Bank published the decision, the Monetary Policy Summary and the minutes on 5 November 2026 ([Bank of England, November 2026 Monetary Policy Summary and minutes](https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes/2026/november-2026)).

## How the Committee voted

- **For a rise of 0.25 points, to 4%**: Andrew Bailey, Sarah Breeden, Swati Dhingra, Megan Greene, Clare Lombardelli, Huw Pill, Dave Ramsden and Alan Taylor
- **For a rise of 0.5 points, to 4.25%**: Catherine L Mann

## What the Bank said

The summary says UK CPI inflation increased to 3.5% in September and is now expected to rise to around 5% by the middle of next year, before falling as the effect of higher energy prices on 12-month inflation rates fades. It says there is still limited evidence of knock-on effects from energy on other prices and wages, but that the inflationary pressure in the pipeline is now enough to warrant a rise in Bank Rate. Activity data in recent months have generally been stronger than expected, which the Bank says adds to the case for modestly tighter policy.

The Committee also says "monetary policy is not on a pre-set path". It will watch how far high energy prices feed through to other prices by monitoring underlying pay, pricing behaviour and slack, and will adjust Bank Rate as needed to return CPI inflation to the 2% target in the medium term.

## Where the rate came from

In September the MPC held Bank Rate at 3.75% on a 6–3 vote, with three members voting for a rise to 4% ([September decision](/news/bank-of-england-holds-3-75-percent-september-2026/)). The September inflation figure the Bank refers to is covered in [UK inflation rises to 3.5% in September](/news/uk-inflation-september-2026-3-5-percent/).

The minutes of the next meeting, which ends on 16 December, will be published on 17 December 2026. For how rate decisions reach the exchange rate, see [how interest rate decisions move currencies](/news/how-interest-rate-decisions-move-currencies/). Live prices: [GBP/USD](/markets/gbp-usd/).

## Sources

- [Bank of England: Bank Rate increased to 4%, November 2026 Monetary Policy Summary and minutes, 5 November 2026](https://www.bankofengland.co.uk/monetary-policy-summary-and-minutes/2026/november-2026)

## Common questions

### What did the Bank of England decide in November 2026?

It raised Bank Rate by 0.25 percentage points to 4% at the meeting ending on 4 November 2026, published on 5 November.

### How did the Monetary Policy Committee vote?

Eight members voted for a rise to 4%. Catherine L Mann voted for a rise of 0.5 percentage points, to 4.25%.

### When is the next Bank of England decision?

The next meeting ends on 16 December 2026, and its minutes are published on 17 December 2026, according to the Bank.

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