Evening Briefing: Thursday 5 November 2026
- Bank Rate is 4% from today: a typical tracker mortgage costs about £31 a month more and a variable deal about £14 once your lender moves, while savings rates should edge up; fixed-rate borrowers are unaffected until they remortgage.
- The Bank now expects inflation to climb from 3.5% to around 5% by the middle of next year before easing, so the squeeze on food, fuel and energy bills gets worse before it gets better — and the Bank says more rises are possible.
- Expect the January energy price cap to bite harder than the rate rise: the BBC’s economics editor says a typical household bill surges by 27% in January to £2,150 a year, which is why the Bank sees inflation near 5% by spring.
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