The Bank of England held rates steady at 3.75% for the fifth time this year, as committee members weighed rising energy costs and global tensions—especially the Iran conflict—against slowing inflation. Six voted to keep rates unchanged, while three argued for a quarter-point hike to 4%, fearing inflation could spiral. Though inflation dipped to 2.6%—better than expected—it remains above the 2% target, leaving policymakers on edge.
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