Bank of England Warns Inflation Could Reach 6% Amid Energy Price Risks
The Bank of England warned that inflation could rise to 6.2% if the Middle East conflict causes a prolonged energy price shock, pushing oil prices to $100 a barrel by 2028. The Bank kept interest rates at 3.75% but indicated potential rate hikes above 5% if needed. The FTSE 100 rose 1.7% following the announcement.
Topics: Bank of England Energy Prices Inflation Interest Rates Middle East Conflict