BoE Keeps Interest Rates Steady Amid Iran Conflict

The Bank of England (BoE) has maintained its interest rates at 3.75 percent, despite some committee members voting to raise them further.

This decision comes after UK consumer price inflation fell to 2.6 percent in June, a decrease from previous months.

BoE governor Andrew Bailey warned that if the Iran War continues and energy prices remain high, interest rates may need to increase above 3.75 percent.

Bailey noted that if the conflict were resolved, the BoE would be able to adopt a looser stance on monetary policy.