BoE holds interest rates at 3.75%
Governor says he would respond ‘promptly’ to stronger second-round effects of Iran war
The Bank of England today (June 18) held rates at 3.75% in a 7–2 decision.
In the minutes of the monetary policy committee (MPC) meeting, the governor Andrew Bailey said he had voted for a hold based on “softness” in the real economy and uncertainty around the energy price shock. He added that the risks to inflation and interest rates were on the upside and that he would respond “promptly” to signs of widening inflationary pressures.
“Oil prices have fallen in recent days, and that’s encouraging
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