BoE holds rates at 3.75%
Bank outlines scenarios involving varying degrees of conflict-induced inflation in UK
The Bank of England today (April 30) held rates at 3.75% in an 8–1 decision.
In the minutes of the monetary policy committee (MPC) meeting, governor Andrew Bailey said the inflationary shock resulting from the Iran war differed from the one that had followed Russia’s full-scale invasion of Ukraine in 2022. “The increase in energy prices has been smaller, monetary policy more restrictive and the labour market is weaker,” he said.
During today’s post-decision press conference, Bailey said higher
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