Bank of England Holds Rates Steady at 4.25% in Dovish 6-3 Vote
The Bank of England held interest rates at 4.25% in a more divided vote than expected as policymakers reacted to signs of softening in the labor market and weak growth against a backdrop of mounting geopolitical tensions.
In a decision that left rates on course for a potential quarter-point cut in August, six of the BOE's nine Monetary Policy Committee members voted to leave rates unchanged while three - externals Swati Dhingra and Alan Taylor, as well as Deputy Governor Dave Ramsden — preferred an immediate quarter-point reduction.
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