Bank of England Holds Rates Steady Amid Inflation Concerns

The Bank of England kept interest rates unchanged at 3.75% despite some members favoring a hike due to inflation driven by the global energy crisis.

The central bank emphasized that monetary policy aims to manage economic adjustments to energy price shocks to maintain a 2% inflation target.

This cautious stance on interest rates continues to limit volatility in the gold market, as higher rates raise the cost of holding gold.