BoE Keeps Rates Steady Amid Iran War Inflation Fears

The Bank of England's Monetary Policy Committee has decided to keep interest rates unchanged at its meeting on Thursday. Despite this decision, the committee indicated that it may raise rates soon in an effort to combat inflationary pressures stemming from the Iran war.

Of the nine members voting, six opted for no change while three supported a quarter-point increase to 4%. The decision was widely anticipated by economists and financial analysts.