Bank of England holds rates and hints at hikes
MPC member says UK economy ‘damaged’ by energy shock as war triggers first unanimous vote since 2021
The Bank of England held its policy rate at 3.75% today (March 19) and said the conflict in the Middle East had damaged the UK’s economic outlook and shifted the bank’s inflation forecasts.
The decision, which was in line with market expectations, was the first unanimous vote by the bank’s monetary policy committee (MPC) since it held rates in December 2021. The BoE now expects inflation to rise above 3% for much of this year and said it could reach 3.5% in the third quarter. The figure has been
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