Rising oil prices could force up UK interest rates, say economists

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Rising oil prices could force up UK interest rates, say economists

Bank of England expected to keep rates on hold on Thursday but renewed Iran conflict casts shadow over energy costs The Bank of England could be forced to tear up its economic forecasts and raise interest rates later this year if oil prices return to above $100 a barrel, according to City economists. Before a meeting of Bank officials on Thursday, economists said that while an interest rate hike would probably be avo…