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Evening Standard
Evening Standard
Holly Williams

What is behind the Bank’s latest rates decision and inflation warnings?

Inflation MPC Middle East Oil the Middle East Interest Rates
The Middle East conflict has sent oil and gas prices rocketing higher (PA) - (PA Wire)

The Bank of England has kept interest rates on hold as it warned over an inflation surge caused by the Iran war.

Policymakers voted unanimously to keep rates at 3.75%, with cuts now looking likely to be off the table as the conflict in the Middle East rages on, sending oil and gas prices racing higher.

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