Bank of England Set to Raise Interest Rates

• The Bank of England is poised to raise interest rates, according to multiple reports.
• This would be the first rate increase since 2023.
• Inflation is expected to rise due to a 3.6% increase in the energy price cap by Ofgem on October 1.
• The Bank of England may temper expectations for further rate hikes.
• The decision comes as energy costs are set to increase this winter for typical households.