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BOE holds rate, warns of hike if Iran war persists
LONDON: The Bank of England held its benchmark interest rate at 3.75 percent on Thursday, but warned that a hike might be needed as the Middle East war pushes up energy prices. The widely expected decision following a regular monetary policy meeting comes after the Federal Reserve on Wednesday lifted US interest rates for the first time since 2023, citing the need to combat surging inflation. “So far higher energy costs have had a limited effect on price and wage setting in the UK,” Bank of England governor Andrew Bailey said. “But the longer this volatility persists, the bigger the impact it ...
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