Business & Finance
Bank of England keeps interest rate at 3.75%
- BoE holds rates, but warns US-Iran war will cause inflation to rise again due to volatile energy prices
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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.
Read the full article for:
- Bank of England's interest rate decision.
- US-Iran conflict's effect on energy prices.
- Predictions for future inflation increases.
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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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