The Bank of England kept its key interest rate unchanged at 5.25% at the conclusion of its June Monetary Policy Committee (MPC) meeting. In the immediate aftermath of the last MPC meeting in May, there was increased speculation of the potential for a rate cut in June following dovish comments from Governor Bailey. However, subsequent to this, there was an above consensus CPI inflation print, which meant the consensus view heading into this week’s BoE meeting was for no change to rates. The June MPC marks the seventh consecutive meeting where the BoE has remained on hold.