BoE Holds Rates as Fuel Price Pressure Hits Inflation

The Bank of England has kept its main interest rate at 3.75 per cent, despite rising inflation in the UK reaching a five-month high.

Inflation is being driven by higher fuel prices, exacerbated by the ongoing impact of the Iran war.

Financial markets expect the central bank to raise rates before the end of this year, as it continues to grapple with price increases and inflationary pressures.