People outside the Bank of England, which has scaffolding on its exterior
Before the Iran war the Bank of England’s nine-member monetary policy committee had been expected to cut interest rates this year. Photograph: Thomas Krych/Zuma Press Wire/Shutterstock
Before the Iran war the Bank of England’s nine-member monetary policy committee had been expected to cut interest rates this year. Photograph: Thomas Krych/Zuma Press Wire/Shutterstock
Bank of England raises interest rates to 4%, the first increase for more than three years

Decision by MPC a week after the budget comes as Iran war continues to drive up energy costs