The Bank of England is expected to keep its key rate unchanged at 4% during its November meeting, as policymakers balance easing inflation with signs of a cooling economy. Consumer price growth slowed to 3.8% in September, still nearly double the 2% target but continuing to trend lower, while wage and employment data suggest the labor market is softening. These developments have strengthened expectations for rate cuts in the coming months. Investors are also weighing the impact of upcoming fiscal tightening, with Chancellor Rachel Reeves expected to announce tax increases and spending restraint in her November 26 budget to address high borrowing costs. Her recent pre-budget speech emphasized fiscal discipline and the need to stabilize public finances. With uncertainty ahead of the Autumn Budget and policymakers seeking clearer evidence that price pressures are easing sustainably, the BoE is likely to adopt a cautious “wait-and-see” stance before considering monetary easing.