BoE Holds Interest Rates Steady Amid Ongoing Inflation Concerns

The Bank of England has maintained its interest rates at 3.75% as expected by analysts, despite inflation running above its target.

Inflation rose to 3.1% last month and is likely to rise further over the coming quarters, according to the central bank.

The decision was not unanimous, with six members voting to maintain rates and three favoring a hike to 4%.

Fed Chair Kevin Warsh struck a hawkish tone, saying that inflation has been 'too high' for 'too long', and that the Federal Open Market Committee's predominant focus is on price stability.