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Bank of England keeps interest rates at 3.75% as Iran conflict weighs on economy

The Guardian World Thursday 18 June 2026, 11:00 UTC By Heather Stewart 1 min read
Key Points

Higher energy costs due to the closure of strait of Hormuz are expected to boost inflation and slow UK growthBusiness live – latest updatesBank of England policymakers have left interest rates on hold at 3.75%, as they continue to weigh the impact of the Iran conflict on the economy. The decision had been widely expected, even before Wednesday’s inflation figure undershot forecasts to remain at 2.8% in May.

Higher energy costs due to the closure of strait of Hormuz are expected to boost inflation and slow UK growth

Bank of England policymakers have left interest rates on hold at 3.75%, as they continue to weigh the impact of the Iran conflict on the economy.

The decision had been widely expected, even before Wednesday’s inflation figure undershot forecasts to remain at 2.8% in May.

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Bank of England (ORG) Iran (LOCATION) Hormuz (LOCATION) UK (LOCATION) England (LOCATION)
Originally published by The Guardian World Read original →

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