The Bank of England rate decision on Thursday, November 5, 2026, could bring the first UK interest rate rise in more than three years. The announcement lands at 12:00 GMT (7:00 a.m. ET, 1:00 p.m. CET) together with fresh economic forecasts, and the Bank streams its press conference live and free.
Key facts (as of November 2026)
- Bank Rate has stood at 3.75% since the last cut at the end of 2025, and the Monetary Policy Committee kept it there on September 17, 2026.
- In a Reuters poll taken October 12–14, 54 of 63 economists forecast a quarter-point rise to 4.0% in November.
- UK inflation was 3.5% in the year to September, against the Bank of England’s 2% target.
What is happening on November 5?
The Bank’s nine-member Monetary Policy Committee (MPC) announces where it will set Bank Rate, the UK’s main interest rate. According to the Bank’s calendar, it will also publish the meeting minutes and its quarterly Monetary Policy Report at noon UK time.
Because the new report comes out that day, senior policymakers led by Governor Andrew Bailey hold a press conference to explain it and take questions. Most forecasters now expect an increase of 0.25 percentage points, which would lift the rate to 4.0%. Reuters and Bloomberg both describe it as the first potential hike in more than three years.
When is the Bank of England rate decision in your time zone?
The statement goes out at noon in London. US clocks moved back an hour on November 1, so New York is again five hours behind the UK.
| Place | Local time on Thursday, Nov 5 |
|---|---|
| London, Dublin (GMT) | 12:00 p.m. |
| Paris, Berlin, Madrid (CET) | 1:00 p.m. |
| New York, Washington (ET) | 7:00 a.m. |
| Los Angeles (PT) | 4:00 a.m. |
For other cities, our guide to the UK–US time difference explains how the gap shifts during the year.
Why does it matter outside the UK?
Bank Rate shapes what UK banks charge on mortgages and loans and what they pay on savings, so a rise feeds into household budgets fairly quickly. It also moves the pound and British government bonds, which matters for investors in New York, Frankfurt and Paris.
There is a wider pattern, too. Reuters reported that the Federal Reserve and the European Central Bank have already started raising borrowing costs this year. A UK hike would make the Bank of England the latest major central bank to respond to the energy price shock.
What led to this?
Energy is the main driver. Reuters tied the price surge to the conflict between Iran and the US and Israel, which started in late February, and City AM reported that disruption to shipping through the Strait of Hormuz pushed up oil costs. As a result, UK inflation climbed from 3.1% in August to 3.5% in September, official figures show.
In September the MPC voted 6–3 to hold rates, and three members wanted a rise, City AM reported. At that meeting Bailey warned that if the energy volatility lasted, “the more likely it is we will need to raise Bank Rate.” Bloomberg added that the Bank already projects inflation above 4% in early 2027.
The decision also comes a week after the October 28 budget from Chancellor John Healey. Gilt yields near their highest levels in decades had already squeezed his room for tax and spending choices, according to Bloomberg.
What are economists and policymakers saying?
Most City economists expect a hike, but not a unanimous one. Deutsche Bank expects a 6–3 split in favor, City AM reported, while Pantheon Macroeconomics thinks only MPC member Alan Taylor will vote for no change.
There are cautious voices as well. RBC economist Cathal Kennedy said there was little sign of broad price pressure beyond fuel, though he did not expect that to stop a rise. Meanwhile, the outlook after November is split: in the Reuters poll, 30 of 61 economists expected another increase in early 2027. By contrast, traders were pricing in four quarter-point rises by the end of 2027, Reuters said, and Bloomberg Economics expects a second move in February.
What happens next?
The MPC’s next scheduled decision is on Thursday, December 17, 2026. After that, the February 4, 2027 meeting brings the next Monetary Policy Report and press conference, according to the Bank’s published dates. The Bank’s next Financial Stability Report is due on November 26.
How to watch the Bank of England rate decision live
The quickest official option is the Bank itself. Its press conferences page carries the live stream, which is hosted on the Bank’s YouTube channel, and it costs nothing to watch.
For reporting and reaction around the announcement, these channels offer official ways to watch:
- BBC News covers the decision on its rolling channel and website. Our BBC News live stream guide sets out the official ways to watch in the UK and abroad.
- Sky News is the other big UK rolling news channel. See our Sky News live guide for its official apps and streams.
- CNBC covers the market reaction during the US morning. Our CNBC streaming guide lists cable and streaming options.
- Bloomberg TV focuses on markets and central banks. Our Bloomberg TV guide covers where to find it.
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Frequently asked questions
What time is the Bank of England rate decision?
It is published at 12:00 p.m. GMT on Thursday, November 5, 2026. That is 7:00 a.m. ET and 1:00 p.m. CET.
Will the Bank of England rate decision bring a hike?
Nobody knows until the vote is announced. Most economists in the Reuters poll expect a rise to 4.0%, but forecasts are not decisions, and at least one MPC member is expected to vote against.
Can I watch the press conference for free?
Yes. The Bank streams it on its website and YouTube channel at no cost, and recordings stay online afterwards.
Sources
- Bank of England: Interest rates and Bank Rate
- Bank of England: MPC dates for 2026 and 2027
- Reuters (via KFGO): economists poll on a November rate rise, Oct 15, 2026
- Bloomberg (via Swissinfo): UK inflation and the November meeting, Oct 17, 2026
- City AM: rate hike and the Healey budget, Oct 21, 2026
- City AM: economists’ expectations for the MPC vote, Oct 30, 2026
