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The Bank of England’s 3.75% rate hold

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Where it stands

On July 31, the Bank of England held its benchmark rate at 3.75% in a 6-3 vote. Three policymakers favored an immediate quarter-point hike, citing the risk that Middle East tensions could reignite inflation; Governor Andrew Bailey said there was little evidence of energy-price increases spreading to broader prices, while acknowledging uncertainty.

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    1. Update 1Bank of England Holds at 3.75% as 6-3 Split Reveals War Fear

    The story so far

    1. Update 1

      Bank of England Holds at 3.75% as 6-3 Split Reveals War Fear

      The Bank left rates at 3.75% for a fifth straight time, but three votes to hike revealed a committee braced for Iran-war inflation.

      Still open after this report

      • The names of the three policymakers who voted to hike cannot be confirmed from the provided source excerpts.
      • How much of any energy shock would pass into broader British inflation, and how fast.

    History

    1. Opened1 report

    Who's involved

    People

    • Andrew BaileyGovernor of the Bank of England1 report
    • Catherine L. MannAmerican economist1 report
    • Huw PillBritish economist1 report
    • Megan GreeneAmerican economist1 report

    Places

    • Bank of EnglandThreadneedle St, London EC2R 8AH, UK1 report
    • IranIran1 report
    • United KingdomUnited Kingdom1 report

    Every outlet we read on this story

    11 sources10 outlets1 video