Bank of England warns ‘higher inflation is unavoidable’ after leaving interest rates on hold
by Tom Knowles from World news | The Guardian on (#75AAV)
Bank governor says latest MPC decision is reasonable given unpredictability of events unfolding in Middle East
The Bank of England has left interest rates unchanged at 3.75% but warned that the UK should brace for hikes later this year, as higher inflation is unavoidable" as a result of the war in the Middle East.
The Bank's rate-setting monetary policy committee (MPC) voted to leave borrowing costs on hold on Thursday, with its nine-member committee split 8-1 in their decision.
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