The Guardian Australia – Business
·business
·2 hours ago
Bank of England holds rates steady as inflation risks rise from oil
The Bank of England held interest rates steady despite warning of higher inflation from Middle East conflict-driven oil prices. The central bank forecasts inflation could exceed 6% in worst-case scenarios, with mortgage payments rising £80 monthly and food prices hitting 4.6%. Policymakers paused rate hikes citing weak economic growth and subdued wage expectations, though some committee members signaled readiness.
Summary by Glance · The Guardian Australia – Business
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