BoE delivers message Britons don’t want to hear as inflation – and rates – look set to rise

Decision to hold interest rates is backed by gloomy assessment of economy as Iran war pushes up oil prices Bank of England holds interest rates at 3.75% Business live – latest updates The US-Israel attack on Iran has already driven prices higher and not just at the petrol pumps, the Bank of England said on Thursday in a gloomy assessment of the UK’s economic outlook. An inflation rate that was on track to fall from 3% to the Bank of England’s 2% target in the coming months is now expected ...

By Phillip Inman