Bank of England (BoE) Governor Andrew Bailey speaks during the Monetary Policy Report press conference in London on July 30, 2026. (Photo by Henry NICHOLLS / POOL / AFP via Getty Images)

Bank of England (BoE) Governor Andrew Bailey speaks during the Monetary Policy Report press conference in London on July 30, 2026. (Photo by Henry NICHOLLS / POOL / AFP via Getty Images)

A man rides an electric scooter along the street in the financial district in London on July 30, 2026. The Bank of England held its benchmark interest rate at 3.75 percent on July 30 but warned of higher inflation to come owing to the US-Iran war pushing up energy prices. (Photo by Henry Nicholls / AFP via Getty Images)

Pedestrians walk outside the Bank of England (back L) in the financial district in London on July 30, 2026. The Bank of England held its benchmark interest rate at 3.75 percent on July 30 but warned of higher inflation to come owing to the US-Iran war pushing up energy prices. (Photo by Henry NICHOLLS / AFP via Getty Images)

A man (R) speaks on his phone outside the Bank of England in the financial district in London on July 30, 2026. The Bank of England held its benchmark interest rate at 3.75 percent on July 30 but warned of higher inflation to come owing to the US-Iran war pushing up energy prices. (Photo by Henry NICHOLLS / AFP via Getty Images)

A pedestrian walks outside the Bank of England (L) in the financial district in London on July 30, 2026. The Bank of England held its benchmark interest rate at 3.75 percent on July 30 but warned of higher inflation to come owing to the US-Iran war pushing up energy prices. (Photo by Henry NICHOLLS / AFP via Getty Images)

A man (C) exits Bank Station on the Underground outside the Bank of England building in the financial district in London on July 30, 2026. The Bank of England held its benchmark interest rate at 3.75 percent on July 30 but warned of higher inflation to come owing to the US-Iran war pushing up energy prices. (Photo by Henry NICHOLLS / AFP via Getty Images)

A pedestrian (C) walks near the Bank of England (back L) in the financial district in London on July 30, 2026. The Bank of England held its benchmark interest rate at 3.75 percent on July 30 but warned of higher inflation to come owing to the US-Iran war pushing up energy prices. (Photo by Henry NICHOLLS / AFP via Getty Images)