The Bank of England maintained its interest rate at 3.75% but warned of impending inflation increases later this year due to rising energy prices from the US-Iran conflict.
LONDON: The Bank of England held its benchmark interest rate at 3.75 percent on Thursday but warned of higher inflation to come owing to the US-Iran war pushing up energy prices.
“Inflation has fallen faster than we’d expected, but the conflict in the Middle East continues to mean high and volatile energy prices,” said bank governor Andrew Bailey. “That will cause inflation to rise again later this year.”
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