Bank of England Holds Key Rate Steady Amid Energy Price Fears

The Bank of England (BoE) maintained its key interest rate at 3.75% on Thursday, in line with economists' expectations.

The Monetary Policy Committee (MPC), led by Governor Andrew Bailey, voted 6-3 to keep the bank rate unchanged.

MPC members Catherine Mann, Megan Greene, and Huw Pill were among those who called for a quarter-point hike, citing further increase in energy prices as a concern.

However, they were outvoted by their colleagues, with the majority deciding against a rate increase amid limited evidence of second-round effects on inflation.