Bank of England leaves interest rates on hold at 3.75%

Decision not to change rate comes despite signs inflation is rising amid the Iran war’s effects on fuel prices

The Bank of England has left UK interest rates unchanged at 3.75%, despite signs that inflation is beginning to accelerate due to the impact of the Iran war.

The Bank’s rate-setting monetary policy committee (MPC) voted to leave borrowing costs on hold at noon on Thursday, after its latest rate-setting meeting.