Bank of England holds rates at 3.75% while warning of oil price volatility

The Bank of England maintained its benchmark interest rate at 3.75% in a 6-3 vote. Governor Andrew Bailey warned that ongoing oil price volatility due to Middle East conflicts could necessitate future rate hikes. Meanwhile, US economic data showed a stronger-than-expected labor market, though the housing sector continues to decline. Bitcoin prices rose despite the macroeconomic uncertainty.