Bank of England Keeps Interest Rates at 3.75 Percent Amid Energy Price Worries

The Bank of England maintained its policy rate at 3.75 percent on Thursday. The decision was made by the Bank's Monetary Policy Committee, which voted 6 to 3 in favor of holding the interest rate.

Although inflation has started to fall, the central bank is not yet confident that it will remain low due to high energy prices. The Bank of England stated that annual consumer inflation had decreased to 2.6 percent since the previous meeting, but inflation is expected to rise again by the end of this year.

The main concern is the volatility and high levels of crude oil and processed energy product prices. If these costs are passed on to consumers, it could push up prices for goods and services.