Bank of England considering November rate rise over stubborn inflation
Business
The Bank of England is thinking about raising interest rates in November to deal with stubborn inflation, influenced by elevated energy prices.
Top officials say these rising costs might keep inflation above the bank's 2% target, so a rate hike is looking more likely.
Markets see 75% November rate hike
Energy price spikes aren't just making bills higher: they could also push up wages and everyday prices across the economy.
Markets now see a 75% chance that interest rates will go up in November.
The Bank says it's watching global events, like possible oil supply disruptions, as it decides what to do next.