BoE Holds Rates as Hawkish Signals and Energy-Driven Price Hikes Squeeze UK Households

UK inflation dropped to 2.6% in June — below expectations — and Brent crude has fallen back to around $80 per barrel from $100 peaks last week. The Bank of England is widely expected to hold rates at 3.75% for the fifth consecutive time at noon today, keeping the benchmark at its lowest since February 2023. City AM's Shadow MPC unanimously backs a hold, arguing that slowing private-sector pay growth and weaker GDP expansion of just 0.1% in May justify a "wait...