EL7.AI
Central BanksMedium•12 November 2026•
1 min read

UK Economic Growth Boosts December Rate Hike Prospects

Key Facts

1UK economic growth data showed strength that could prompt the Bank of England to raise interest rates in its December meeting.

UK economic growth data showed strength that could prompt the Bank of England to raise interest rates in its December meeting. Investing.com reported that recent growth figures exceeded expectations, suggesting the economy can withstand higher borrowing costs to combat persistent inflationary pressures.

The annual GDP growth rate reached 1.9% on November 12, 2026, meeting forecasts and rising from the previous 1.4%. Data released on the same day showed quarterly GDP growth at 0.7%, while manufacturing production grew by 0.7% month-on-month, exceeding expectations of a 0.5% contraction.

The annual inflation rate is scheduled for release on November 18, 2026, with forecasts pointing to it holding steady at 3.5%. These figures will be critical for the Monetary Policy Committee ahead of its December meeting.