Bank of England holds interest rates at 3.75%

The Bank of England has held interest rates at 3.75 per cent despite fresh uncertainty in the Middle East.

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Economists expected a majority of the Bank’s rate-setting committee to keep the base interest rate at 3.75% despite attacks in the region and US threats reigniting some concerns over inflation.

The Office for National Statistics said earlier this week that UK consumer price index inflation eased back to a 15-month low in June, at 2.6%.

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