Sterling climbs as Bank of England leaves rates unchanged
The Bank of England held interest rates steady on Thursday as inflation risks grew. Sterling rose as the committee voted unanimously to keep costs on hold.
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The British pound strengthened on Thursday as the Bank of England opted to keep interest rates unchanged, while market participants analyzed the potential economic consequences of the conflict in Iran. The Monetary Policy Committee (MPC) in the United Kingdom voted unanimously 9-0 to maintain borrowing costs, a shift from the previous month's divided 5-4 vote.
"After months of division, the Committee is now more united in holding rates steady, voting a unanimous 9-0 versus February’s tight 5-4 split."
