DEVELOPING: Bank Issues Warning as UK Interest Rates Remain at 4%, Inflation Threat Lingers

Breaking News: UK Interest Rates Remain at 4% Amid Inflation Concerns The Bank of England has held interest rates at 4%, despite rising inflation concerns, with Governor Andrew Bailey warning that the country "is not out of the woods yet". This decision comes as a surprise to analysts who had expected a cut in borrowing costs. Inflation remains a major concern, with prices rising at nearly twice the Bank's target rate. The Bank expects inflation to return to its key target of 2% but is cautious about when it will trim borrowing costs again. The Bank has cut interest rates five times since August last year as the pace of inflation eased, but since April inflation has been heading higher again, fueled by rising food costs. Two members of the Monetary Policy Committee (MPC) voted to cut rates to 3.75%. This decision marks a significant moment in the UK's economic landscape, with implications for borrowers and savers alike. The Bank will meet twice more this year to discuss interest rates. This is a developing story, and we will provide updates as more information becomes available. *This is a developing story. Updates will be provided as more information becomes available. Based on reporting from Bbc.*