Related topic: Bank Rate

One member voted to increase Bank Rate to 4%.

The rise reflects higher energy prices alongside wider economic uncertainty, although many industry experts expect the Bank of England to pause rather than hike rates.

Could better-than-expected GDP figures prompt the Bank of England to hold rather than hike rates?

Sebastian Murphy, group director at JLM Mortgage Services, says the assumption higher inflation automatically leads to higher interest rates is not one that necessarily holds in the...

Holding policy steady is preferable until the impact becomes clearer, Taylor says.

Markets are now pricing in the possibility of multiple interest rate increases this year.

This comes amid continued disruption in the Strait of Hormuz and significant damage to energy infrastructure across the Gulf.

The conflict in West Asia has raised concerns about global energy prices, inflation, and market volatility.

There is growing market speculation that the Bank of England could increase rates as a direct consequence of the ongoing Iran-related conflict.

Some mortgage lenders cancelled planned rate cuts earlier in the week while others have increased rates.