The Bank of England has maintained interest rates at 4.5 percent, disappointing homeowners grappling with high mortgage costs. Those on the average Standard Variable Rate of 7.68 percent will pay £358 more per month compared to homeowners with a typical two-year fixed rate. Policymakers at the Bank of England express concerns about inflation and uncertainty, diminishing the likelihood of rate cuts following their latest meeting. Inflation in the UK has risen to 3%, contributing to the Bank's cautious stance on rate reductions.