The Bank of England will announce its interest rate decision on Thursday 5 November 2026. According to a Reuters report of 3 November, the bank is expected to raise rates in response to higher energy prices, and financial markets already price in four further hikes. Paul Hollingsworth of BNP Paribas disagrees: in his view there will be no more rises after this week. Below is the Reuters recording (in English).
What it means for you and your family
The economists’ disagreement is not academic – it determines how much you will pay for borrowing next year. If the markets are right, variable mortgage payments will rise several more times, and lenders are already building this into new fixed-rate deals. If BNP Paribas is right, Thursday’s rise will be a one-off and current mortgage pricing may turn out to be too high.
For families with savings it is a good moment to check the rate on your account – a higher Bank Rate is not always passed on automatically. For businesses: dearer working-capital loans and leasing, but also a chance of better returns on surplus cash. We describe Thursday’s decision and its effects in our Finance analysis.
The risk
Those most exposed are homeowners whose fixed rate ends in the coming months and people on variable-rate loans. Do not decide on the strength of headlines – compare offers from several sources and ask an adviser about the total cost of borrowing.
Where to check
- Bank of England – rate decision dates (next: 5 November 2026).
- Reuters – recording of 3.11.2026.
Contact the editors
Is your fixed rate ending, or do you run a business with a loan? Write to us – we will help you prepare your questions before talking to the bank.
Sources: Reuters (3.11.2026); Bank of England.
We assess factual corrections and substantive responses. Verified changes are reflected in our reporting.
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