Sterling rises against dollar as BoE holds rates at 3.75%
The Bank of England kept rates at 3.75 percent in an 8-1 vote while monitoring the Iran war. Sterling rose against the dollar but dropped against the yen.
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The Bank of England (BoE) held interest rates at 3.75% midday Thursday, causing GBP/USD to rise 0.2% to $1.3503. The Monetary Policy Committee (MPC) voted 8-1 to maintain the benchmark rate as the United Kingdom assesses conflict risks. Investors face heightened volatility as the BoE scrapped inflation forecasts due to deep uncertainty regarding the Iran war.
