AssetID: 56032569
Headline: UNCAPTIONED: Bank Of England Holds Rates But Signals Possible Rise
Caption: Bank Of England Holds Rates But Signals Possible Rise. The Bank of England has held interest rates at 3.75 percent for a sixth consecutive meeting but warned they could rise if energy prices remain high. The US-Israel war with Iran has disrupted global energy supplies, pushing up petrol and diesel prices and adding to inflationary pressures. Bank of England Governor Andrew Bailey said volatility in energy markets had increased the likelihood of higher interest rates. The Bank also raised its inflation forecast, predicting the rate will be slightly above four percent at the start of next year. Inflation reached 3.1 percent in August, remaining above the Bank's two percent target. Officials also warned that the household energy price cap is now expected to rise substantially in January. Meanwhile, the Bank announced it would slow sales of UK government debt, helping to ease the government's long-term borrowing costs. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
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