Bank of England maintains 3.75% rate

The Bank of England kept interest rates at 3.75%, amid ongoing inflation concerns due to rising energy costs, despite the inflation rate decreasing to 2.8% in May and the economy contracting by 0.1% in April. The bank anticipates inflation will rise again due to higher energy prices, while it is expected to maintain interest rates until the end of the year, despite hints from some members of a possible future increase.

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