Bank of England Holds Rate at 3.75%, Warns of Inflation Risks from Energy Shock
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The Bank of England has kept its policy rate unchanged at 3.75% following a 6-3 vote, citing concerns over potential inflation increases later this year due to an energy shock. The decision comes as UK consumer price inflation fell to 2.6% in June. Governor Andrew Bailey warned that if the Iran conflict continues and oil prices remain high, interest rates may need to rise further. The Monetary Policy Committee also noted that underlying GDP is stagnating and could suffer from the energy shock caused by disruptions to the Strait of Hormuz.
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#URGENT Bank of England holds policy rate at 3.75% in 6-3 vote, warns...
Bank of England holds rate at 3.75% as energy shock clouds inflation o...
Bank of England holds interest rates at 3.75pc as energy shock and inf...
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