BoE Holds Rates, Warns of Future Hike Amid Iran War Fallout

The Bank of England has decided to keep interest rates unchanged at its meeting on Thursday. The decision was widely anticipated, as six members of the Monetary Policy Committee voted to maintain the current rate, while three members supported a quarter-point increase.

The Bank cited inflationary pressures caused by the fallout from the Iran war as the reason for potentially raising rates in the future. This move is aimed at dampening these pressures and controlling inflation.