BoE Stays Neutral as Global Markets React to US-Iran Tensions

The Bank of England has opted to hold interest rates steady in its latest decision, citing concerns about the global market's reaction to the escalating tensions between the US and Iran.

During a press conference at Bloomberg, Andrew Bailey dodged questions about the impact on US Treasury yields, which plummeted after Kevin Warsh's Federal Reserve speech earlier that evening.

The market appears unconvinced that Warsh will prioritize controlling inflation, despite his appointment as Donald Trump's preferred candidate to lead the Fed following Jay Powell's departure.