Bank of England Holds Interest Rates at 3.75%

The Bank of England has made its fifth consecutive decision to keep interest rates at 3.75%. This move comes as the bank assesses how volatile energy prices are affecting the economy.

Despite a fall in inflation last month, the rate remains at its lowest level since February 2023. The uncertainty over the US-Iran conflict has caused oil prices to swing wildly, briefly touching $100 a barrel.

The decision was widely expected by economists and analysts, who saw no need for a change in the current interest rate.