Bank of England keeps key interest rate steady; ECB also expected to hold
Central bank’s decision to maintain its key interest rate at 3.75% follows holds from the BoC, U.S. Fed and Bank of Japan this week
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Open this photo in gallery:Prices are shown at a gas station in London on March 30. Surging oil prices sparked by war in the Middle East have shaken the global economy.Kin Cheung/The Associated PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountThe Bank of England kept its main interest rate on hold at 3.75 per cent Thursday as policy-makers assess the economic impact of the Iran war and Tehran’s effective closure of the Strait of Hormuz, through which a fifth of the world’s crude passes. The decision was widely expected and echoes the decision of other central banks facing higher prices as a result of the conflict in the Middle East. On Wednesday, the Bank of Canada and U.S. Federal Reserve kept rates on hold, a day after the Bank of Japan did so too.
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