Thursday, November 5, 2026
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• Democrats sweep the midterms and take both chambers of Congress• Bomb threats divert at least 19 passenger flights across Europe• Wall Street reverses as AI chip stocks sink the Nasdaq• Vance blames the Iran war for the Republican wipeout• OpenAI rolls out faster image model that also makes GIFs• Pungent gas over Mars fissures hints the planet is still volcanically active• Democrats sweep the midterms and take both chambers of Congress• Bomb threats divert at least 19 passenger flights across Europe• Wall Street reverses as AI chip stocks sink the Nasdaq• Vance blames the Iran war for the Republican wipeout• OpenAI rolls out faster image model that also makes GIFs• Pungent gas over Mars fissures hints the planet is still volcanically active
Business

Bank of England raises rates for the first time since the Iran war began

Policymakers moved to tame energy-driven inflation, even as hopes grow that the conflict could end.

BrieflyTold Desk · · 1 min brief

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The brief

  • ■First rate increase since the war in Iran began
  • ■The conflict lifted energy prices, though they have cooled since the midterms
  • ■US jobless claims fell to 189,000, below expectations

Why it matters

Higher UK rates mean costlier mortgages and loans — and show central banks still fighting the war's inflation shock.

The Bank of England raised interest rates on Thursday, its first increase since the start of the Iran war, as the conflict's impact on energy prices continues to feed inflation.

Energy costs have fallen back somewhat since the US midterms raised hopes for an end to the war, but the Bank judged that price pressures remain too strong to wait.

In the US, the labor market stayed firm: initial jobless claims fell to 189,000 last week, below the 197,000 economists expected, while announced layoffs ticked up slightly in October.

Sources

  • Dow Jones
  • Morningstar

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