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

Two MPC members vote for a quarter-point rise but Bank argues rapid reaction risks creating volatility Business live – latest updates The Bank of England has left interest rates on hold, arguing that reacting too quickly to inflation threats risks creating “undesirable volatility”, as the Iran war drags on the UK economy. Seven of the nine-person monetary policy committee voted to keep rates at 3.75% as the MPC weighed the threat of higher inflation against the prospect of an economic slowdown

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