Bank of England holds interest rates at 3.75% but says inflation still to rise (opens original article in a new tab)

The Bank of England kept interest rates at 3.75% amid concerns about rising living costs from the Iran war, while expecting CPI inflation to remain below 3% in the next three months. Two MPC members advocated for a rate hike due to economic uncertainty.

• Bank of England holds interest rates at 3.75%
• MPC expects CPI inflation to be just under 3% in next three months
• Two MPC members preferred to raise rates to 4% due to uncertainty