Interest rates could rise again across the world – here's why
Surging oil prices driven by the US-Iran conflict are fueling global inflation concerns, prompting the European Central Bank to raise interest rates to 2.5%. The US Federal Reserve is expected to hike rates next week due to persistent inflation and a strong jobs market, despite President Trump's calls for lower borrowing costs. Meanwhile, the Bank of England is anticipated to hold rates steady at 3.75% as the UK economy shows fewer signs of secondary inflationary effects compared to previous shocks.
- ▪The European Central Bank raised interest rates to 2.5% citing the Middle East conflict and inflation remaining above its 2% target.
- ▪Brent crude oil prices have reached approximately $105 per barrel due to restricted shipments through the Strait of Hormuz.
- ▪Deutsche Bank economists predict a US rate hike is the most likely outcome, while the Bank of England is expected to keep rates at 3.75%.
- ▪UK inflation currently stands at 2.9% and is expected to rise, though economists note a lack of second-round effects like significant wage demands.
- ▪President Donald Trump has publicly urged the Federal Reserve to lower interest rates, contrasting with the central bank's focus on curbing price rises.
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| Original publisher | BBC News — Business |
| Canonical URL | https://www.bbc.co.uk/news/articles/cew9nkx7v9eo?at_medium=RSS&at_campaign=rss |
| Publication time | Fri, 11 Sep 2026 08:28:47 GMT |
| Retrieval time | 2026-09-11T08:29:49.951Z |
| Last seen | 2026-09-11T08:29:49.951Z |
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Are interest rates on the way up again?Image source, Getty ImagesByMichael RaceBusiness reporter, Reporting fromNew YorkPublished9 hours agoThere's nothing like talk of energy prices and potential higher borrowing costs to remind us that the summer holidays are well and truly over.Surging oil prices have been pushing up what drivers pay at the fuel pumps and eating away at household budgets for months, and concerns remain over whether the economic impact of the US-Iran war will drive the cost of living higher.Citing the Middle East conflict and warning inflation was "set to remain well above" its 2% target for some time, the European Central Bank recently raised interest rates to 2.5%.Other central banks are also responding, with the US and the UK poised to make interest-rate decisions…
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