Middle East War Holds UK Rates Hostage as Shell Rakes In War Profits

The Middle East war is the sole reason the Bank of England isn't cutting interest rates, directly hitting your mortgage and savings. Without the conflict, UK inflation would be sitting pretty at the 2% target—but oil prices and energy costs keep pushing it higher. The Bank held rates at 3.75% yesterday, with three policymakers voting for a hike, warning that "policy strategy could change" if the fighting escalates. That means any relief for borrowers is...