The Bank of England has kept its base interest rate at 4.5%, choosing a cautious approach amid slow economic growth and rising inflation. After a small rate cut in February, the Bank is pausing further changes as it monitors both domestic and global economic conditions. Inflation reached 3% in January and may rise further, while GDP shrank slightly and wage growth remains high. Although more rate cuts are expected later this year, the Bank isn’t ready to act until inflation shows clearer signs of stabilizing.