BOE's Bailey Says Holding Rates Is a 'Sensible Decision'

Bank of England Governor Andrew Bailey stated that holding interest rates steady is a "sensible decision" following the central bank's vote to maintain the benchmark rate at 3.75%. This decision was made by a 7-2 vote. Bailey indicated that energy prices continue to exceed pre-war levels and emphasized the need for the Bank of England to evaluate the potential damage to the energy supply infrastructure in the Middle East. He conveyed this in an interview after the Monetary Policy Committee's announcement.