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Bank of England holds interest rate at 3.75% as oil price spirals
Posted
April 30, 2026
Views
10,781
Likes
87
Comments
32
Engagement
1.10%
April 30, 2026
10,781
87
32
1.10%
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4:05Now PlayingThe Bank of England has opted to hold the base rate at 3.75%.
Eight of the nine members of the Monetary Policy Committee voted for a hold, with just one wanting to increase it.
Before conflict erupted in the Middle East on 28 February, the Bank was expected to make the first rate cut of the year today, taking it to 3.5% - but war and the impact on oil supplies has seen the cost of crude soar, increasing the rate of inflation.
#skynews #bankofengland #ukeconomy #middleeast #iranwar
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