BoE holds rates at 3.75% as it waits to see impact of Iran war

The Bank of England's Monetary Policy Committee decided to maintain interest rates at 3.75%, with a six to three split among key voters who are increasingly confident that inflationary pressures are easing. This decision comes as the committee deliberates on the potential economic repercussions stemming from the conflict in Iran. This pause in rate hikes underscores the BoE's cautious approach to further monetary tightening until it has a clearer understanding of the broader economic impacts from geopolitical tensions.