Bank of England Keeps Interest Rates Unchanged Amid Iran War Inflation Fears

The Bank of England kept interest rates unchanged on Thursday, but hinted at potential future increases to combat inflationary pressures stemming from the Iran war.

Six members of the Monetary Policy Committee voted in favor of maintaining the status quo, while three supported a quarter-point increase to 4%.

Although borrowing rates remained steady, financial markets anticipate that the bank may raise them at one of its next two policy meetings, either in November or December.