Bank of England Maintains Benchmark Rate as UK Inflation Cools

The Bank of England (BoE) held its benchmark lending rate at 3.75% today. This decision follows a more-than-expected cooling of British inflation last month, primarily due to a brief de-escalation in the Iran war which reduced fuel prices. Despite the slowdown, market expectations for further BoE rate hikes later this year remain, with investors pricing in approximately a 25 basis point increase by December.