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 takes part in 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)

(L to R) Bank of England (BoE) Deputy Governor Clare Lombardelli, BoE Governor Andrew Bailey, head of media Katie Martin and BoE Deputy Governor for Markets and Banking Dave Ramsden (R) take part in 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 (L) and head of media Katie Martin (R) take part in 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)

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)