Bank of England holds interest rates at 3.75% as inflation fears mount
Policymakers voted 6-3 to hold, with June inflation easing to 2.6% and three members warning that energy risks still threaten prices.
- On Thursday, the Bank of England's Monetary Policy Committee voted 6-3 to keep the Bank Rate at 3.75%, pausing to assess fallout from renewed fighting in Iran.
- Consumer price inflation slowed to 2.6% in the 12 months through June, a 15-month low that gave the Committee breathing room to hold the benchmark rate.
- Committee members Megan Greene, Huw Pill, and Catherine Mann dissented, voting for a 25 basis point hike and warning that prolonged energy uncertainty in the Gulf and Red Sea threatened inflation targets.
- Renewed fighting pushed Brent crude above $100 a barrel on July 23, with prices trading at about $92 on Thursday, reflecting ongoing Middle East uncertainty.
- The Federal Reserve on Wednesday kept its key rate at 3.5% to 3.75%, with Chairman Kevin Warsh saying the Fed "will not hesitate to act" to keep inflation under control.
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112 Articles
Bank of England Warns Inflation Will Rise This Year as Policymakers Split on Rate Hike
Internewscast Journal Internewscast The Bank of England left interest rates unchanged at 3.75 per cent… This Post: Bank of England Warns Inflation Will Rise This Year as Policymakers Split on Rate Hike first appeared on Internewscast Journal
Bank of England Maintains Interest Rates
The Bank of England held its rate at 3.75 percent on Thursday, with its Monetary Policy Committee voting six to three to leave rates unchanged. The decision came after UK consumer price inflation fell to 2.6 percent in June, its lowest reading in more than a year. At a press conference after the decision was...
Britain's central bank decided to keep its key interest rate at 3.75 percent today, as last month's bigger-than-expected drop in inflation gave policymakers time to assess the consequences of a renewed war in Iran.
Bank of England issues inflation warning after holding interest rates at 3.75%
The Bank of England has held interest rates at 3.75 per cent, with policymakers warning that inflation is expected to rise again later this year.The Monetary Policy Committee (MPC) voted to keep the base rate unchanged at its latest meeting as uncertainty persists over the economic fallout from the conflict in the Middle East.The decision was not unanimous: six members backed a hold, while three voted for a quarter‑point increase to four per cen…
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