Bank of England keeps rates steady, sees further loosening as jobs market weakens

The Bank of England held interest rates at 4.25 per cent as expected on Thursday but said it was focused on risks from a weaker labour market and higher energy prices as conflict in the Middle East escalates.

Noting the elevated global uncertainty and persistent inflation, the Monetary Policy Committee voted 6-3 to keep rates on hold, with Deputy Governor Dave Ramsden joining Swati Dhingra and Alan Taylor to vote for a quarter-point reduction.

A Reuters poll of economists had...