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Bank of England boss tells BBC he won't rush interest rate rises

interest rate rises Bank of England governor Andrew Bailey says the UK's central bank will not rush to make a decision

UK unemployment shows surprise fall to 4.9% as pay growth drops to lowest in five years

Bank of England will examine Tuesday’s employment market data and the inflation figures before making their next interest rate decision

Airlines and companies using fuel surcharges to cover surge in costs, UK survey shows

decisions](https://www.theguardian.com/business/2026/apr/23/uk-braces-for-price-rises-driven-by-iran-war-as-economic-confidence-plummets). Moreover, the widespread price rises will further pressure the [Bank of England](https://www.theguardian.com/business/bankofenglandgovernor) to raise interest rates

Interest rates expected to be held as uncertainty over Iran war continues

Interest rates are expected to be held at 3.75% by the Bank of England, with uncertainty dominating the UK and global economies. Analysts are widely predicting the benchmark rate will be left unchanged owing

Bank of England leaves interest rates on hold at 3.75%

England](https://www.theguardian.com/business/bankofenglandgovernor) has left UK interest rates unchanged at 3.75%, despite signs that inflation is beginning to accelerate due to the impact of the Iran war. The Bank’s rate-setting monetary policy

Faisal Islam: Bank of England is trying to manage expectations

interest rate rise is going to force an oil tanker through the Strait of Hormuz, or clear the "hazardous area" of mines. The Bank of England repeatedly made the point in its latest meeting

UK growth forecast upgraded by IMF but risks remain

decisions," it added. The upgrade comes after figures released last week showed the economy grew by 0.6% in the first three months of the year, led by a rebound in areas such as retailing

What is happening to UK prices?

England began cutting rates in August 2024. Six cuts since then brought rates down to 3.75%, the lowest level since early 2023. The [most recent cut in December 2025](https://www.bbc.co.uk/news/articles/cj01v7z73q1o) reflected concerns over

Lower gas and electricity bills behind UK inflation fall to 2.8%

decisions taken in the Budget last year had "kept inflation down as we deal with global instability". "We have already taken £117 off energy bills, frozen rail fares, and lifted the two-child limit

What people in power think the impact of the Iran war will be

decision to go to war. It was the Chancellor Rachel Reeves who was especially vocal on the "folly" and "mistake" of war "which is not ours". The meetings of finance ministers such