Forex
BoE Stays Put as Inflation Fears Mount Amid Iran Conflict
The Bank of England has decided to keep interest rates at 3.75% as inflation fears mount amid the ongoing conflict in the Middle East.
Governor Andrew Bailey said there was little sign that inflationary pressures were becoming entrenched, citing a weak growth outlook for the UK economy.
The Bank's central forecast is for UK inflation to peak at about 3.2% later this year as households face pressure from higher energy prices.