ECB and BoE warn of rate rises as they grapple with Middle East shock
Policymakers indicate they may need to raise borrowing costs if energy price surge triggers persistent inflation
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ECB holds interest rates at 2% as inflation rises
Policymakers warn risks to economy from energy shock driven by Middle East conflict have ‘intensified’
Bank of England holds rates at 3.75% but says ‘ready to act’ if needed
Monetary Policy Committee says borrowing costs may need to rise if energy shock continues to hit global economy
Eurozone inflation jumps to 2.5% in March
Middle East energy shock pushes annual rate past European Central Bank’s 2% target
European stocks and government bonds fall as oil price climbs
Energy shock intensifies fears that global economy faces prolonged period of higher inflation
Bank of England holds rates at 4.25% amid Middle East uncertainty
Decision follows data showing UK inflation remains stubbornly above target
Leading central banks play for time on interest rate rises
Convulsions in energy markets, often driven by Donald Trump’s posts on Truth Social, are complicating inflation forecasts