On 6 November 2025, the Bank of England kept its benchmark interest rate unchanged at 4 % following a 5-4 vote and indicated that inflation may have already peaked at approximately 3.8 %. Governor Andrew Bailey emphasised a ‘gradual’ approach to any future cuts and noted persistent growth weakness. The central bank’s language suggested a dovish tilt but confirmed caution in moving ahead of the UK’s upcoming fiscal budget. Markets reacted with bond yields easing and the pound dipping as investors priced a likely December cut.