According to CoinMeta, Suren Thiru, the Chief Economist of the Institute of Chartered Accountants in England and Wales, stated that the Bank of England's decision to maintain interest rates unchanged was a pragmatic move that was within expectations. Following inflation falling below expectations and the renewed threat of the US-Iran conflict sparking a new round of price increases, the 6-3 vote result indicated that concerns about inflation currently outweigh those about the economy, leaving the possibility of a rate hike in September still open. Nevertheless, the direction of interest rates remains uncertain, and policy may remain unchanged for the rest of this year. Policymakers have resorted to tougher rhetoric rather than raising rates to curb inflation. Thiru also noted that the longer the Iran conflict continues, the greater the risk that the committee will eventually lose patience.