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The Bank of England voted 6-3 to keep the Bank Rate steady at 4.25% at its June meeting, navigating a challenging backdrop of heightened global uncertainty and persistent inflationary pressure. Three members favored a 0.25 percentage point cut to 4%, though investors had expected a 7-2 split. The central bank noted that consumer price inflation is likely to remain broadly at current rates for the rest of the year before easing back toward the target next year. However, it warned of “two-sided risks to inflation,” expressing concern over rising energy prices amid the escalating Middle East conflict and potential trade disruptions from proposed US tariffs. It also noted that underlying UK GDP growth "appears to have remained weak,” while the labor market has “continued to loosen.” Still, in light of the broader outlook and ongoing disinflation, the Bank affirmed that a gradual and cautious approach to the further withdrawal of monetary policy restraint remains appropriate.