The Bank of England left its key interest rate unchanged on Thursday but cautioned that there is a risk of material second-round effects from the energy price shock, caused by the war in the Middle East, which could lead to future rate hikes.
The BoE Monetary Policy Committee, led by Governor Andrew Bailey, voted 8-1 to hold the bank rate at 3.75 percent.
The current rate remains the lowest since June 2023. Previously, the central bank had reduced the rate by 25 basis points each in August and November last year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.