Only the Middle East crisis is preventing a drop in UK interest rates

The UK's Bank of England is holding interest rates at three point seventy-five percent, and The Guardian reports the reason is far outside the central bank's control: the Middle East conflict. Central bankers believe regional tensions threaten to keep oil prices high, pushing UK inflation back onto an upward trajectory. Without that geopolitical risk, their inflation outlook would be benign—and rates would likely fall.

Listen to this story

Hear this and more stories in a personalized audio briefing.

Open The Chonkerton