LONDON (AP) — The Bank of England held its main interest rate at 3.75% on Thursday as the sharp oil and gas price hikes following the start of the Iran war have stoked renewed concerns about inflation.
The decision was widely anticipated after the United States and Israel started bombing Iran less than three weeks ago. All nine members of the Monetary Policy Committee voted to keep borrowing costs on hold, the first unanimous decision for more than four years.
Until the war erupted on Feb. 28, it was a seen as nearly certainty that the Bank of England would cut interest rates as inflation in the U.K. was expected to fall towards the 2% target in the coming months. In last month's rate-setting meeting, four of the nine rate-setters voted for a cut.
“We have held interest rates at 3.75% as we assess how events unfold,” Bank Gov. Andrew Bailey said. "Whatever happens, our job is to make sure inflation gets back to its 2% target.”
The Iran war has done much to upend the bank's predictions as well as the wider global economic forecasts, not least in how it will affect prices.
The longer the Iran war and the associated closure of the Strait of Hormuz go on, the greater the economic pain will be. A fifth of the world’s crude oil goes through the strait.
The most tangible impact has been in oil and gas markets, with prices rising sharply higher since the start of the war. Prices have surged again Thursday after Iran, in retaliation for an Israeli attack on a key Iranian gas field, intensified its attacks on oil and gas facilities around the Gulf, including Qatar's Ras Laffan, the largest liquefied natural gas export facility in the world.
“War in the Middle East has pushed up global energy prices," Bailey said. “You can already see that at the petrol pump and, if it lasts, it will feed into higher household energy bills later in the year.”
With these new inflationary pressures stalking the global economy, central bankers are having to reassess their projections in 2026, both for inflation and growth.
On Wednesday, the U.S. Federal Reserve also held its key interest rate and cautioned about the increasingly uncertain outlook.
For the Bank of England, it's likely to mean that inflation will not fall to its target rate of 2% as soon as expected and will lead to higher prices for the rest of the year — hardly the backdrop for further interest rate reductions anytime soon.
Following Thursday's unanimous decision and the tough language employed by Bailey, financial markets have actually moved to price in higher U.K. interest rates this year.
“While another interest rate cut remains possible if the Iran war ends quickly, with skyrocketing oil and gas prices locking in an imminent inflation spike, the chances of further policy loosening this year is rapidly receding," said Suren Thiru, chief economist at accounting body ICAEW.
Keeping interest rates higher than they otherwise would have been can help keep a lid on inflation. High interest rates weigh on the economy by making it more expensive for businesses and consumers to borrow, thereby bearing down on economic activity and consequently price pressures.
FILE -A man walks in front of the Bank of England, at the financial district in London, Feb. 5, 2026 (AP Photo/Kin Cheung, File)
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Mar 19, 2026--
Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), owner, operator, and developer of premium entertainment and hospitality destinations, highlighted today that its Founder, Chairman, and CEO, J.W. Roth joined Schwab Network’s Opening Bell with Nicole Petallides to discuss the Company’s growth, surging fan demand for live entertainment, and strong investor appetite fueling its expansion.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260319669115/en/
During the interview, Roth highlighted VENU’s recent capital raise, which resulted in gross proceeds of $86.25 million, well above its initial $75 million target, reflecting strong investor confidence in the Company’s model and growth trajectory.
“Investors had an appetite for what we’re building,” said Roth. “It’s an exciting time for VENU and for the live entertainment industry.”
Watch the full interview: - https://bit.ly/4bwBK26
Roth also reinforced VENU’s disciplined financial strategy, highlighting a focus on capital efficiency, low leverage, and long-term value creation as the Company scales. With multiple venues currently under construction and additional projects in development, VENU is positioning itself as a leading builder of large-scale entertainment destinations nationwide.
Looking ahead, Roth shared that VENU expects to develop a total of 20 venues, representing an estimated $6 billion in development over the next five years, further solidifying its position as a category leader in live entertainment infrastructure.
About Venu Holding Corporation
Venu Holding Corporation ("VENU") (NYSE American: VENU) is a premier owner, developer, and operator of luxury, experience-driven entertainment destinations. Founded by Colorado Springs entrepreneur J.W. Roth, VENU has a portfolio of premium brands that includes Ford Amphitheater, Sunset Amphitheaters, Phil Long Music Hall, The Hall at Bourbon Brothers, Bourbon Brothers Smokehouse and Tavern, Aikman Owners Clubs, and Roth’s Sea & Steak. With venues operating and in development across Colorado, Georgia, Oklahoma, and Texas and a nationwide expansion underway, VENU is setting a new standard for live entertainment.
VENU has been recognized nationally by The Wall Street Journal, The New York Times, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents, NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, Billboard, Aramark Sports + Entertainment, Tixr, Boston Common Golf, Niall Horan, and Dierks Bentley, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU’s website, Instagram, LinkedIn, or X.
Forward Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Venu believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. Venu expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
VENU CEO J.W. Roth on Schwab Network’s Opening Bell with Nicole Petallides on March 17, 2026
