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Bank Holds Rates Amid Oil Surge | London News
Published 2 days, 2 hours ago
Description
The Bank of England holds rates steady at 3.75% as oil prices surge past $90 a barrel due to renewed Iran tensions, sparking inflation fears — despite a split committee and market expectations, the move signals caution as the PM unveils cost-of-living relief, including a 45-pound electricity bill cut, aiming to ease household strain amid a volatile global economy.
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