The Bank of England has opted to hold the base rate at 3.75%.
Eight of the nine members of the Monetary Policy Committee voted for a hold, with just one wanting to increase it.
Economists had widely predicted the decision, warning that it was too early for rate setters to hike it over concerns about the impact of the Iran war.
Before the conflict erupted on 28 February, the Bank was expected to make the first rate cut of the year today, taking it to 3.5%.
The base rate acts as a guide for banks and other lenders, so the hold is good news for savers, as it means the rates they earn on their savings are unlikely to fall and could even rise.
For borrowers, it’s a slightly different picture, as it means interest rates applied to credit cards, mortgages and loans could do the same.
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