Economic Buzz: Bank of England keeps interest rates unchanged for fourth time

Bank of England decided to hold interest rates at 3.75% on worries over the impact of high energy prices. This is the fourth meeting in a row that the Monetary Policy Committee (MPC) has decided to keep interest rates unchanged. Bank governor Andrew Bailey noted that recent drops in oil prices were encouraging but high energy prices during the war had still left inflationary pressure in the pipeline. Policymakers said that oil prices remained higher than before the conflict and had continued to be volatile.

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