Oil Surge Forces Rate Watch | London News

Oil prices surging past $100 a barrel due to Middle East tensions could force the Bank of England to hike rates later this year, despite their current plan to hold at 3.75%. With inflation fears mounting and energy costs spilling into food and transport, economists warn of “second-round effects” that could push the Bank’s monetary policy committee to act — possibly with one or two quarter-point increases — if prices stay elevated. Balancing economic slowdown risks against runaway inflation, the Bank faces mounting public pressure as the dominoes fall. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/7cd85b2096399a03