The Bank of England held Bank Rate at 3.75% in a 6-3 vote (previous meeting 7-2). Greene, Mann and chief economist Pill voted for a hike. The committee retained guidance that it is prepared to act if necessary, citing renewed US‑Iran tensions and recent large energy-price swings. At the same time it said there are clear signs domestic inflationary pressures are easing and little evidence the energy shock has raised wage demands or materially passed through to other goods and services. A majority

The Bank of England held Bank Rate at 3.75% in a 6-3 vote (previous meeting 7-2). Greene, Mann and chief economist Pill voted for a hike. The committee retained guidance that it is prepared to act if necessary, citing renewed US‑Iran tensions and recent large energy-price swings. At the same time it said there are clear signs domestic inflationary pressures are easing and little evidence the energy shock has raised wage demands or materially passed through to other goods and services. A majority said policy could change if the war ends soon; two members said they would consider cuts in that scenario. Governor Bailey said there is currently little sign of second‑round effects but it is too early to be complacent given heightened global uncertainty and upside inflation risks, so holding rates is appropriate.