UK services sector growth hits an eight-month high ahead of expected Bank of England rate rise

Summary

The Bank of England is expected to raise interest rates on Thursday after a closely watched survey showed growth across the UK's services sector jumped last month to an eight-month high. S&P Global's October survey found businesses regained much of the momentum they lost after the start of the Iran war, helped by spending on artificial intelligence. Firms also felt the effect of a renewed rise in input price inflation, which accelerated to a five-month high.

Timeline

1. The Guardian

   4 Nov 2026, 13:53 UTCSource ↗

   The Guardian reports that the Bank of England is expected to raise interest rates on Thursday after the S&P Global services PMI for October hit an eight-month high, bolstered by AI spending, while input price inflation accelerated to a five-month high.