Central Bank Holds Rates Steady Amid Inflation Concerns

The central bank's monetary policy committee voted to hold interest rates at their current level on Wednesday, extending a pause that has now lasted three consecutive meetings. In a statement, the committee said inflation remains above target and that further data on wage growth and consumer spending would guide the timing of any future moves. Economists had broadly expected the decision, though a handful had pencilled in a small cut given signs of a cooling labour market.