Bank of England holds interest rates at 3.75% as Iran war prompts inflation fears

Decision comes as concerns mount over economic fallout from conflict bringing fresh cost of living shock Business live – latest updates The Bank of England has kept interest rates on hold amid growing fears over an inflation shock triggered by the US-Israel war on Iran. As households brace for a rise in living costs, the Bank’s rate-setting monetary policy committee (MPC) voted by a majority to keep its key base rate at the current level of 3.75%. Continue reading...

By Richard Partington Senior economics correspondent

Bank of England holds rates as Middle East war poses inflation risk

The Bank of England’s interest rate-setters all voted to keep borrowing ​costs on hold and said they were “ready to act” to see off risks from war in the Middle East, prompting investors to ramp up their bets on higher ‌borrowing costs later this year. The BoE’s Monetary Policy Committee voted 9-0 to keep Bank […]