Inflation Will Linger Despite U.S.-Iran Deal, British Officials Warn

18 June 2026 at 12:52

Bank of England policymakers kept interest rates on hold, saying the impact of the war in Iran was still a major source of uncertainty for the economy.

Policymakers at the Bank of England have held rates steady since late last year, as the war in the Middle East pushed up energy prices.

Bank of England governor warns UK public to expect higher costs this year

The Guardian - World news

By: Heather Stewart Economics editor

18 June 2026 at 16:02

Andrew Bailey says ‘still inflationary pressure in pipeline’ despite US and Iran nearing peace deal as interest rates kept on hold

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The governor of the Bank of England has warned consumers to expect higher costs this year as a result of the conflict in the Middle East, despite falling oil prices as the US and Iran near a peace deal.

Speaking after the Bank kept interest rates on hold at 3.75%, Andrew Bailey said there was “still some inflationary pressure in the pipeline” after the conflict pushed up energy prices.

Farage trying to block ‘Britcoin’ plans that could be costly for billionaire donor

The Guardian - World news

By: Tom Burgis

18 June 2026 at 11:30

Reform UK leader used private meeting at Bank of England to urge governor to drop plans for state-run cryptocurrency

Nigel Farage has been trying to block a Bank of England cryptocurrency plan that could be costly for the billionaire bankrolling his party.

The Reform UK leader has said Christopher Harborne wants nothing in exchange for the millions he has donated to the party and the undeclared £5m personal gift to Farage that the Guardian revealed in April.

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