The Bank of England has left its key interest rate unchanged at 3.75%, in line with economists' expectations. The U.K. central bank's rates-setting Monetary Policy Committee voted by a 6-3 split to keep the benchmark rate, officially known as Bank Rate, unchanged. A hold had been widely anticipated after headline U.K. inflation fell to 2.6% in June, a 15-month low. "A proactive hike in Bank Rate may reduce the probability that second-round effects set in," Greene said. "This would place us in the best position to manage risks to the inflation target as they emerge."