BOE Holds Rates at 4%, Keeps Cautious Stance on Future Cuts

The Bank of England held interest rates at 4% and left the prospect of more cuts later this year in doubt after policymakers voiced growing concerns over a resurgence in inflation.

The Monetary Policy Committee voted 7 to 2 in favor of keeping rates unchanged on Thursday, with long-standing doves Swati Dhingra and Alan Taylor backing another quarter-point cut. The decision and vote split were expected by economists.