Bank of England holds main interest rate at 3.75% as Iran war jolts inflation expectations - BNN Bloomberg
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3,172 articles tracked
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Article Excerpt
LONDON — LONDON (AP) — The Bank of England held its main interest rate at 3.75% on Thursday as the sharp oil and gas price hikes following the start of the Iran war have stoked renewed concerns about inflation.
The decision was widely anticipated after the United States and Israel started bombing Iran less than three weeks ago. All nine members of the Monetary Policy Committee voted to keep borrowing costs on hold, the first unanimous decision for more than four years.
Until the war erupted on Feb. 28, it was a seen as nearly certainty that the Bank of England would cut interest rates as inf…
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