Bank of England keeps rates at 3.75% amid Iran tensions
Business
The Bank of England just decided to keep interest rates at 3.75%, even though prices are rising thanks to global tensions, especially the conflict in Iran.
Most of the committee wanted things unchanged, but their chief economist pushed for a hike.
The BoE is still aiming for that 2% inflation target, sticking to its plan after several rate cuts since 2024.
UK inflation hits 3.3% in March
With oil prices jumping past $100 a barrel and energy bills climbing, UK inflation hit 3.3% in March, up from February's 3%.
The government says it's trying to help by freezing rail fares and cutting utility bills.