● BOE Hikes Rates to 4% First Time in Three Years

The Bank of England raised its benchmark rate to 4% from 3.75%, the first increase in three years, with every Monetary Policy Committee member backing a hike — one member pushed for double that size. The decision followed a surge in UK natural gas futures, up 81% versus July's forecast, that is now expected to keep inflation elevated. The pound ($GBP) touched its strongest level since the Brexit referendum.