The Bank of England warned Thursday about the "highly unpredictable" geopolitical environment as it kept its main interest rate unchanged at the two-year low of 4.25%.

With concerns mounting over the conflict between Israel and Iran, and uncertainty over U.S. President Donald Trump's tariff agenda, rate-setters at the bank were widely expected to keep borrowing costs on hold as they await developments.

U.S. President Donald Trump lashed out Wednesday at the Federal Reserve for not cutting interest rates, calling the central bank's leader "stupid" and insisting that there is "no inflation" despite worries over fresh tariffs.

"We have a stupid person, frankly, at the Fed, he probably won't cut today," Trump said, hours before the Fed was due to release its latest interest rate decision. "We have no inflation, we have only success, and I'd like to see interest rates get down."

Inflation in the U.K. dropped modestly in May as a drop in air fares and transport costs were largely offset by rising food prices, particularly chocolate, official figures showed Wednesday.

The Office of National Statistics said consumer prices rose by 3.4% in the year to May, down from 3.5% the previous month.

Global shares were mostly higher Wednesday and oil prices slipped as investors awaited a decision on interest rates by the Federal Reserve, which was expected to keep its key interest rate unchanged for a straight time.

Oil prices continued to gyrate as the conflict in the Middle East intensified.

The Senate is expected to approve legislation Tuesday that would regulate a form of cryptocurrency known as stablecoins, the first of what is expected to be a wave of crypto legislation from Congress that the industry hopes will bolster its legitimacy and reassure consumers.

The fast-moving legislation, which will be sent to the House for potential revisions, comes on the heels of a 2024 campaign cycle where the crypto industry ranked among the top political spenders in the country, underscoring its growing influence in Washington and beyond.

U.S. stocks are slipping on Tuesday following signals that one of the U.S. economy's main engines, spending by households, is weakening while Israel's conflict with Iran may be worsening.

The S&P 500 was 0.4% lower in early trading. The Dow Jones Industrial Average was down 129 points, or 0.3%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.4% lower.

President Joseph Aoun on Monday discussed with Ousmane Dione, World Bank Vice President for the Middle East and North Africa, and Jean-Christophe Carré, World Bank Regional Director, projects previously approved by the World Bank's Board of Directors and are still awaiting parliamentary approval.

When U.S. President Donald Trump last came to Canada for a Group of Seven summit, the enduring image was of him seated with his arms folded defiantly as then-German Chancellor Angela Merkel stared daggers at him.

If there is a shared mission at this year's G7 summit, which begins Monday in Canada's Rocky Mountains, it is a desire to minimize any fireworks at a moment of combustible tensions.

Asian shares rose Monday and oil prices extended gains on worries that escalating Iran-Israel tensions could disrupt the flow of crude around the world.

U.S. benchmark crude oil added 71 cents to $73.69 per barrel. Brent crude, the international standard, gained 58 cents to $74.81 per barrel.

U.S. President Donald Trump will arrive Sunday for a Group of Seven summit in a country he has suggested should be annexed and as he wages a trade war with America's longstanding allies.

Trump's calls to make Canada the 51st U.S. state have infuriated Canadians, and Prime Minister Mark Carney, who won his office by pledging to confront the U.S. president's increased aggression, now hosts the G7 summit.