This article appears as part of the Money HQ with Ben Stark newsletter.

The Bank of England (BoE) held the base rate at 3.75% on Thursday, April 30. It is the third successive ‘hold’ vote by the BoE’s monetary policy committee (MPC), and it means rates have been stable at this level since December 2025.

But with inflation likely to spike in the coming months due to sustained turmoil in the Middle East, the BoE’s balancing act is becoming more difficult. The base rate freeze on April 30 had been widely expected by the markets. It is clear the BoE is taking a ‘wait and see’ approach, for now.

But with no end in sight to the US Iran........

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