Governor Andrew Bailey says "interest rates remain on a gradual downward path" but cautions "the world is highly unpredictable".

The Bank of England has left its interest rates on hold at 4.25% during its Thursday meeting, though the bank has indicated that cuts were coming later in this year.

The Bank of England warned Thursday about the “highly unpredictable” geopolitical environment as it kept its main interest rate unchanged at the two-year low of 4.25%. With concerns mounting over the conflict between Israel and Iran,