Interest rates kept on hold with Bank of England alert to ‘highly unpredictable’ world

• The Bank Of England's Monetary Policy Committee decided to keep UK Interest Rates unchanged at 4.25%.
• The decision was made following a split vote, with six members opting to hold rates and three preferring a cut.
• Bank governor Andrew Bailey stated that Interest Rates remain on a gradual downward path, but the world is highly unpredictable.
• The MPC emphasized that a gradual and careful approach to reducing borrowing costs continues to be the right course of action.
• The Bank is closely monitoring signs of softening in the labour market, such as slower hiring and easing wage growth, for their impact on UK inflation.

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UK interest rates kept on hold with Bank alert to ‘highly unpredictable’ world