UK interest rates have been held at 3.75% for a fifth time by the Bank of England as it continues to assess how volatile energy prices are affecting the economy.
The rate – which influences how much borrowers are charged for loans and mortgages as well as returns for savers – remains at its lowest level since February 2023.
The Bank had been widely expected to keep the rate unchanged despite a fall in the rate of inflation last month.
However, more recently, uncertainty over the US-Iran conflict has seen oil prices swing wildly, briefly touching $100 a barrel.
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