Interest rates held as Bank of England says inflation set to rise

The Bank of England has decided to hold interest rates steady, citing expectations that inflation is set to rise. Despite uncertainties stemming from the Iran war, the Bank forecasts the economy will grow more than previously predicted this year. Economic growth is anticipated to exceed earlier projections, although the ongoing conflict poses a risk to this outlook. The Bank's decision reflects a delicate balance between managing inflation and supporting economic expansion.

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