LONDON, July 30 (Xinhua) -- The Bank of England announced on Thursday that it has decided to keep its benchmark interest rate unchanged at 3.75 percent.

People walk by the Bank of England in London, Britain on Jan. 24, 2022. (File photo: Xinhua)

Andrew Bailey, governor of the Bank of England, said: "Inherited inflation persistence may be weaker than had been presumed. Alongside this, the labor market continues to ease, and the demand environment remains soft. Holding Bank Rate is appropriate as global conditions look to be more uncertain and inflationary, while domestic conditions are on balance more benign as regards the prospects for inflation."

The Bank of England left its policy rate unchanged in both April and June.