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  "path": "/money/interest-rates-bank-england-us-iran",
  "publishedAt": "2026-03-19T12:01:38.000Z",
  "site": "https://www.gbnews.com",
  "tags": [
    "Labour denies ‘Donald Trump-style’ tariffs as steel import taxes to double",
    "Iran strikes major Qatar gas facility as global energy fears intensify and oil prices top $110",
    "Greene King at risk of closing 150 pubs amid 'perfect storm' of rising inflation and taxes",
    "The GB News Editorial Charter"
  ],
  "textContent": "\n\n\nThe Bank of England has voted to keep the UK's base rate at 3.75 per cent as the ongoing war between the US-Iran war causes an \"uncertain global backdrop\" for the markets.\n\nPrior to President Donald Trump and Israel's decision to launch military action against the Islamic Republic, markets had priced in at least two rate cuts from the central bank in 2026.\n\n###\n\n\n\n\nIn recent years, the Bank's Monetary Policy Committee (MPC) has opted to raise the cost of borrowing to as high as 5.25 per cent in an effort to bring down the consumer price index (CPI) inflation.\n\nAs inflationary concerns have eased, committee members have voted to bring down the base rate to 3.75 per cent, but the recent spike in gas prices appears to have put a halt to cuts for the time being.\n\n###\n\n\n\n\n###\n\n\n\n\nThe base rate sets the cost of borrowing for businesses and consumers, determining the interest rates attached to mortgage products and savings accounts.\n\nUnlike recent base rate decisions, all policymakers on the nine-person MPC voted unanimously in favour of the proposition to hold.\n\nFollowing its decision, the Bank published in a statement: \"Conflict in the Middle East has caused a significant increase in global energy and other commodity prices, which will affect households’ fuel and utility prices and have indirect effects via businesses’ costs.\n\n\"Prior to this, there had been continued disinflation in domestic prices and wages. CPI inflation will be higher in the near term as a result of the new shock to the economy.\"\n\n_**THIS IS A BREAKING NEWS STORY...MORE TO FOLLOW**_\n\n###\n\n\n\n\n### LATEST DEVELOPMENTS\n\n\n\n\n  * Labour denies ‘Donald Trump-style’ tariffs as steel import taxes to double\n  * Iran strikes major Qatar gas facility as global energy fears intensify and oil prices top $110\n  * Greene King at risk of closing 150 pubs amid 'perfect storm' of rising inflation and taxes\n\n\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\n###\n\n\n\n\n\n\n\n\n\n\n**Our Standards: The GB News Editorial Charter**",
  "title": "Bank of England votes to keep base rate at 3.75% as US-Iran war causes 'uncertain global backdrop'"
}