24 Hrs
Source:
The Guardian
Middle East crisis keeps UK rates high
The Bank of England maintained interest rates at 3.75%, citing signals of stable inflation and limited domestic pressures. However, ongoing Middle East conflict threatens to push oil prices higher, potentially causing inflation to rise above its target if the war persists. The central bank remains cautious, monitoring for signs of rising costs or wage inflation, which could necessitate rate hikes in the future.
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