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 it warned that a further escalation in the Iran war could drive inflation above 4% next year, adding to cost-of-living pressures on households.
Against a volatile backdrop in the Middle East conflict, the Bank’s monetary policy committee voted by six to three to keep its key base rate at the current level of 3.75%.
Continue reading...Originally reported by The Guardian. Read the full story at the original source.
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