BoE Keeps Interest Rates at 3.75% Amid Inflation Concerns

The Bank of England has decided to keep interest rates unchanged at 3.75%, despite concerns about inflation.

In a vote, six out of nine members of the Monetary Policy Committee (MPC) chose not to increase rates, while three voted in favor of an increase.

This is a slight shift from last month's vote, where seven members favored keeping rates low and only two wanted an increase.

Economist Felix Feather notes that this decision was 'slightly more hawkish' than expected, indicating growing concern about inflation risks within the MPC.

The UK economy has shown signs of resilience, with a 0.1% growth in May and a 0.7% increase over the three months to May.