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Euronews
Euronews
Una Hajdari

Bank of England holds rates as Iran war sends oil prices to new highs

Bank of England Oil Iran Inflation Middle East Japan

The Bank of England has held interest rates at 3.75% as the war in Iran and Tehran's effective closure of the Strait of Hormuz send oil prices to their highest level in four years.

The decision on Thursday was widely expected, following the US Federal Reserve's move the day before to leave rates unchanged for the third consecutive meeting and a similar hold by Japan's central bank on Tuesday.

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