Interest rates expected to rise for first time in over three years

Bank of England policymakers are expected to raise interest rates on Thursday, in what would be the first increase in the benchmark rate for more than three years.

Decision expected on Thursday

The anticipated move would represent the first rise in the Bank of England’s benchmark interest rate in over three years. The decision remains expected rather than confirmed ahead of the policymakers’ meeting.

The benchmark rate is the central focus of the upcoming decision. If the increase goes ahead, it would mark a notable change from the period since the Bank’s previous rate rise more than three years ago.

What is known so far

• The Bank of England is expected to raise interest rates.
• The decision is expected on Thursday.
• The increase would affect the benchmark rate.
• It would be the first benchmark-rate rise in more than three years.

Further details about the decision were not provided in the source information.