Bank of England keeps rates at 3.75%
Split 6–3 decision points to divisions over inflation outlook amid escalation of Iran war
The Bank of England held rates at 3.75% today (July 30) in a 6–3 vote, despite an expected uptick in inflation later in the year.
In the minutes of the MPC meeting, Bailey said the decision was appropriate as “global conditions look to be more uncertain and inflationary, while domestic conditions are on balance more benign as regards the prospects for inflation”.
He added that although there were upside risks to energy prices because of the conflict in the Middle East, the labour market in the UK
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