General · 19 March 2026
35% gas price rise follows Iran attacks; rates may increase
Households face potential misery from higher mortgage payments as the Bank of England indicates interest rates might go up. Iran attacked energy sites, including Qatar's Ras Laffan, leading to European gas prices briefly increasing by 35 per cent. The Bank held its base rate at 3.75 per cent and now expects inflation to reach 3.5 per cent by July, nearly double its target.
Reported by Independent · How we write briefs