Markets · Macro
The Monetary Policy Committee voted 8–1 to lift Bank Rate by 0.25 percentage points to 4%, citing UK CPI at 3.5% in September and rising energy prices.
UK mortgage and other borrowing costs tied to Bank Rate just stepped higher. At its meeting ending Nov. 4, the Bank of England's Monetary Policy Committee voted 8–1 to increase Bank Rate by 0.25 percentage points, to 4%, according to the November 2026 Monetary Policy Summary [1]. Bank Rate is the interest rate the Bank sets for reserves, and it feeds through to what UK households and firms pay to borrow [2].
Eight members voted for the 0.25-point rise; Catherine L Mann preferred a 0.5-point increase to 4.25% [1]. The Bank's rate database shows the prior setting was 3.75%, in force since Dec. 18, 2025 [3]. The decision was published on Nov. 5 [1]. The Bank's pages do not state a clock time for the release.
The Committee pointed to energy prices and domestic inflation. UK CPI inflation, the consumer-price gauge the Bank targets at 2%, "increased to 3.5% in September," the summary says, and "is now expected to rise to around 5% by the middle of next year" [1]. Activity data have been stronger than expected, adding to the case for a tighter setting [1][2].
| November 2026 Bank Rate decision at a glance | Figure |
|---|---|
| New Bank Rate | 4.00% |
| Prior Bank Rate (from Dec. 18, 2025) | 3.75% |
| Change | +0.25 pp |
| MPC vote | 8–1 |
| Dissent | +0.50 pp to 4.25% (Mann) |
| UK CPI (September, as cited by BoE) | 3.5% |
| BoE inflation target | 2% |
Source: Bank of England Monetary Policy Summary, November 2026, and Bank Rate database [1][3]. Table: Le Coin.
On CoinGecko's five-minute USD series for Nov. 5, bitcoin was near $80,332 at 12:00 UTC (7:00 a.m. ET) and near $79,606 at 13:00 UTC (8:00 a.m. ET), and ether near $2,419 and $2,392 over that hour [4][5]. By Le Coin's arithmetic on those CoinGecko prints, that is about −0.9% for bitcoin and about −1.1% for ether in that hour. Powered by CoinGecko API.
The same summary says "there remains limited evidence of knock-on effects on other prices and wages," even as it judges pipeline pressure enough to raise Bank Rate [1]. One member wanted a larger step; the rest did not [1]. The CoinGecko prints are a coincident path in a licensed series, not proof the Bank's decision moved crypto. Other news can move prices in the same hour.
In Le Coin's view, the line that matters most is the Bank's own forecast: inflation near 5% by the middle of next year, with a committee still voting to tighten [1]. For crypto holders, that is one more large economy where holding cash pays more, not less. Those 12:00–13:00 UTC (7:00–8:00 a.m. ET) CoinGecko prints gave no clear verdict on bitcoin or ether [4][5]. The Bank says monetary policy "is not on a pre-set path," and the next MPC decision is due Dec. 17, 2026 [1][2].
Holding the Corner.
Not financial advice.