Review: BoE Remains on Hold in September, But Remains Ready to Increase Rates

In this paper, we discuss:

• Why the BoE kept rates unchanged in a 6-3 vote;
• How the Middle East energy shock has shifted UK inflation risks further to the upside;
• Why the BoE remains ready to raise rates despite pushing back against aggressive market pricing;
• Why a 25bp rate hike could come as early as November.

Download PDF: BOE Review – September 2026