Bank of England holds interest rates at 3.75% as inflation fears mount

Split vote comes as Iran war is rekindled and oil price climbs back above $90 a barrel The Bank of England has kept UK interest rates on hold as fears mount over rising inflation triggered by the Iran war. Against a volatile backdrop in the Middle East conflict, the Bank’s monetary policy committee voted to keep its key base rate at the current level of 3.75%, although the decision was not unanimous. Continue reading...