# Bank of England holds rates as Bailey hints at November hike

> Bank of England holds rates despite inflation pressures, with Bailey signaling potential November rate hike.
- Title: Bank of England holds rates as Bailey hints at November hike
- Summary: Bank of England holds rates despite inflation pressures, with Bailey signaling potential November rate hike. Bank of England keeps interest rates at 3.75%…
- Keywords: bank of england, andrew bailey, interest rates, inflation, energy prices, monetary policy committee, gilts, uk government borrowing costs, central bank, november rate hike, news, entertainment
- Source: Dailymail — https://dailymail.com/money/markets/article-16140317/Bank-England-goes-rates-left-hold-Bailey-hints-November-hike-inflation-pressures-build.html?ito=1490&ns_campaign=1490&ns_mchannel=rss
- Published: 2026-09-17T21:00:52+00:00
- Read time: 1 min
- Topics: bank of england, andrew bailey, interest rates, inflation, energy prices, monetary policy committee, gilts, uk government borrowing costs, central bank, november rate hike, news, entertainment
## Bank of England holds rates
The Bank of England stood its ground as the last major central bank to resist interest rate increases despite growing inflation pressures.
## Bailey hints at November hike
Governor Andrew Bailey signalled a hike could be on the way but fought shy of taking action for now, even after counterparts in the US and Europe did so.
## Inflation pressures rise
Rising oil and gas prices due to the Iran war have intensified global price pressures and caused bond market jitters.
## Energy price surge forecast
The Bank predicts energy prices will surge 24 per cent in January, helping lift inflation past 4 per cent, more than twice its 2 per cent target.
## Monetary Policy Committee vote
The vote was split at six to three in favour of leaving rates at 3.75 per cent, though the minority backing a hike included chief economist Huw Pill.
## Bailey's inflation concerns
Bailey said there was 'very limited evidence' of the energy price shock spreading through the economy causing 'second-round' inflation effects.

> Bailey said there was 'very limited evidence' of the energy price shock spreading through the economy causing 'second-round' inflation effects.
## Global rate hike cycle
Other experts said the Bank was signalling a probable hike at the next Monetary Policy Committee meeting in November.
## Gilts sales pause
By pausing sales of gilts for six months and halting sales of longer-date gilts entirely, the Bank reduced borrowing costs for Chancellor John Healey.
## Key takeaway

Bank of England keeps interest rates at 3.75% amid rising inflation, with Governor Andrew Bailey hinting at a November rate hike to address energy price surges.