BoE delivers message Britons don’t want to hear as inflation – and rates – look set to rise
Decision to hold interest rates is backed by gloomy assessment of economy as Iran war pushes up oil pricesBank of England holds interest rates at 3.75%Business live – latest updatesThe...
By Phillip Inman · The Guardian World
Decision to hold interest rates is backed by gloomy assessment of economy as Iran war pushes up oil prices Bank of England holds interest rates at 3.75% Business live – latest updates The US-Israel attack on Iran has already driven prices higher and not just at the petrol pumps, the Bank of England said on Thursday in a gloomy assessment of the UK’s economic outlook. An inflation rate that was on track to fall from 3% to the Bank of England’s 2% target in the coming months is now expected to rise to 3.5%. That is the likely impact of the US and Israel’s war on Iran. Continue reading...