The Bank of England's Monetary Policy Committee raised Bank Rate by 0.25 percentage points to 4% at its meeting ending on 4 November 2026. Eight members voted for that step. Catherine L Mann voted for a 0.5 percentage point increase to 4.25%. The Monetary Policy Summary and minutes were published on 5 November.

The Committee said UK CPI inflation rose to 3.5% in September and is expected to reach around 5% by the middle of next year as energy prices feed through, before falling later. It also said activity data in recent months had generally been stronger than expected. Benchmark two-year mortgage rates had risen by nearly 50 basis points since the beginning of September, and new mortgage approvals for households had been falling, according to the minutes.

Nationwide Building Society's October House Price Index, published separately, puts UK annual house-price growth at 0.5%, down from 0.8% in September, with prices unchanged month on month on a seasonally adjusted basis. The average UK house price in the Nationwide series was £273,566 in October. That figure is industry data used here as market context for the rate move, not a Bank of England number.

For a buyer or buy-to-let investor borrowing in sterling, Bank Rate is the policy floor that feeds into variable and tracker mortgages and into the pricing of new fixed deals through market rates. A cash purchase or a loan already fixed before the decision is not rewritten by the overnight Bank Rate change itself. Australia's recent cash-rate rise is covered in RBA raises cash rate 25 basis points to 4.85%. Canada's overnight-rate move is in Bank of Canada raises the overnight rate 25 basis points to 2.5%.

The next scheduled MPC minutes are due on 17 December 2026, covering the meeting ending on 16 December.

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Sources

Sources read 6 November 2026.