BUSINESSWDIV CLICKONDETROIT
Bank of England holds main interest rate at 3.75% as Iran war inflation pressures ease
The Bank of England held its main interest rate at 3.7% as inflation in May remained steady at 2.8%, below initial expectations but still above its 2% target. The decision followed a U.S.-Iran deal to end their war, which eased energy price pressures, though central bank officials warned of lingering inflationary risks. Economists anticipate no rate hikes in the near term if energy prices remain low, with potential rate cuts possible in 2024.
Mentioned
Related Signal
Adjacent reporting
- Bank of England holds main interest rate at 3.75% as Iran war inflation pressures ease
- Bank of England holds main interest rate at 3.75% as inflation pressures eases
- Bank of England holds main interest rate at 3.75% as inflation pressures on UK economy become more benign
- South Africa hikes key interest rate as Iran war drives inflation
- Bank of England holds interest rates at 3.75%
- Bank of England HOLDS rates at 3.75 per cent - as steady inflation slashes chances of a hike later this year