Bank of England keeps interest rates at 3.75% as Iran conflict weighs on economy

Higher energy costs due to the closure of strait of Hormuz are expected to boost inflation and slow UK growthBusiness live – latest updatesBank of England policymakers have left interest rates on hold at 3.75%, as they continue to weigh the impact of the Iran conflict on the economy.The decision had been widely expected, even before Wednesday’s inflation figure undershot forecasts to remain at 2.8% in May. Continue reading...