Bank of England interest rates held at 3.75% - what it means for your money
Business
The Bank of England held interest rates at 3.75% today and lowered its inflation forecast - but warned of continued uncertainty from the Middle East war. Bank governor Andrew Bailey said higher energy bills are still set to put pressure on households, with the Ofgem price cap rising from this July. However, policymakers now expect inflation will not rise as high as they did before. The Bank of England now predicts inflation will peak at slightly above 3.25% toward the end of this year -
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