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Bank of England holds interest rates
The Bank of England has decided to keep the interest rate unchanged at 3.75%, due to differing opinions among Monetary Policy Committee members. While the majority voted to hold steady, three members supported a 25 basis point increase amid concerns over rising energy prices, especially given ongoing threats related to supply disruptions and restrictions on AI-related device imports. Although inflation in June fell to 2.6%, persistent risks such as energy supply disruptions increase the likelihood of future rate hikes, particularly as concerns over inflation and global factors like tensions in the Middle East grow. Following the decision, the British pound rose by 0.08% against the dollar to $1.3376.
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