The Bank of England (BoE) has maintained interest rates at 4% despite concerns about the persistent above-target inflation. BoE’s nine-member policy committee (MPC) voted 7-2 to leave rates unchanged. The central bank has also had five rate cuts since summer 2024, including one as recently as last month. Markets were expecting the bank to pause rate cuts this month since the UK’s inflation is well above the BoE’s 2% target, at 3.8% in August.