Bank of England holds UK interest rates at 3.75%
Decision comes for the sixth time in a row despite accelerating price rises and rising energy prices.
Quick Look
The Bank of England has held UK interest rates at 3.75% for the sixth consecutive time despite accelerating price rises and increasing energy costs stemming from the Middle East conflict.
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Why It Matters
Central banks globally adjust interest rates in response to shifting inflation and energy price pressures.
UK interest rates have been held at 3.75% by the Bank of England for the sixth time in a row despite price rises accelerating.
The decision was widely expected by economists but comes against a backdrop of rising energy prices stoked by the conflict in the Middle East.
Other major central banks have been increasing rates to counteract higher prices.
On Wednesday, the US central bank - the Federal Reserve - announced its first rate hike in three years, while the European Central Bank has raised rates twice since June.
Open Questions
- When will the Bank of England consider raising rates?
- How will accelerating price rises impact consumers?
