India, June 19 -- The Bank of England maintained interest rates unchanged on Thursday as inflation in the U.K. has remained persistently above the target and geopolitical tensions escalated, raising the upside risks to inflation.
The BoE Monetary Policy Committee, led by Governor Andrew Bailey, voted 6-3 to hold the Bank Rate at 4.25 percent. Three members preferred to reduce the rate by 25 basis points.
The U.K. central bank has reduced the benchmark interest rate four times since last August. The previous change was in May, when the rate was lowered by 25 basis points in a three-way split on the rate-setting body. A majority of MPC members said the disinflationary progress had continued, but there was not a strong case for a further eas...