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Story summary
- Bank of England left the rate unchanged on July 31 2026 after a 6-3 vote.
- Governors Clare Lombardelli, Dave Ramsden and Andrew Bailey voted with the bloc, supporting the hold.
- Chief Economist Huw Pill warned an Iran-related shock could raise inflation, though the 2 % target stays anchored.
- Inflation was 2.6 % and is expected to peak at 3.2 % in Q4 2026.
- Markets price the Bank Rate at 3.75 % with one hike expected this year.
