Economists polled by Reuters expect the Bank of England to raise Bank Rate to 4.0% from 3.75% on Thursday 5 November. Reuters says that would be the Bank's first rise since August 2023.
According to Reuters, the economists point to inflation pressure from energy costs linked to the Iran war. The news agency also reports that the Bank may push back against market bets on several more rises next year.
Investors will be watching for the Bank's first assessment of the Budget, Reuters says. The economists it polled judged that the Budget's measures would only slightly reduce the expected rise in inflation.
The decision is due at 12:00 GMT. Governor Andrew Bailey and his deputies will hold a press conference at 12:30 GMT.
The rate rise is a forecast by economists. The Bank has not yet announced its decision.