Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Guardian - UK
The Guardian - UK
Business
Phillip Inman

Rising oil prices could force up UK interest rates, say economists

Oil United Kingdom Interest Rates Inflation Iran Bank of England
A US navy vessel stops a tanker
A US warship stops a tanker under a blockade of Iranian ports and vessels. Renewed fighting has pushed up oil prices. Photograph: US Central Command/AFP/Getty Images

The Bank of England could be forced to tear up its economic forecasts and raise interest rates later this year if oil prices return to above $100 a barrel, according to City economists.

Before a meeting of Bank officials on Thursday, economists said that while an interest rate hike would probably be avoided this week there could be some in the future because of conflict in the Middle East.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Donald Trump's Golf Invitation Gets Brutal Rejection From Iron Maiden's Nicko McBrain Who Says His 'Cronies' Belong in Jail
Iron Maiden drummer Nicko McBrain says he rejected an invitation to play golf with Donald Trump and criticised the president and his administration in a new interview.
International Business Times UK
International Business Times UK
What’s Actually Made Fresh at the Grocery Store Bakery? The Answer May Surprise You
The smell of warm bread and cookies can make the grocery store bakery one of the hardest sections to walk past without buying something. Rows of golden rolls, frosted cupcakes, and fresh-looking pastries create the impression that bakers prepared everything that morning. Sometimes, that is true, but many supermarket bakeries…
Grocery Coupon Guide
Grocery Coupon Guide
Cyndi Lauper defends working with Nicki Minaj despite rapper’s support for Trump
Rapper has become one of the president’s most famous supporters
The Independent UK
The Independent UK
Doctors Were the Butt of 40% of Facebook Doctor Jokes, but the Most-Liked One Skewered a Lawyer
Researchers combed 30,075 Facebook posts for doctor jokes. Physicians were the usual target, but the most-liked punchline hit a lawyer.
Medical Daily
Medical Daily
Fridge or not? What’s the best way to store bread?
Our experts have some airtight advice to stop your loaf from going stale
The Guardian - UK
The Guardian - UK
Not enjoying being a parent? You’re not alone. Here’s how to handle this complicated feeling
We’re often told parenting is one of the most rewarding things we’ll ever do. But as many parents will attest, it is also full of very difficult moments. And sometimes these moments seem almost constant.
The Conversation
The Conversation
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play