BOE Set to Hold Rates as Oil Price Volatility Continues

The Bank of England is expected to keep interest rates steady at 3.75% as it waits for clarity on oil and gas prices, which have been experiencing wild swings.

Investors and economists anticipate that the Monetary Policy Committee will maintain the benchmark cost of borrowing, with the inflation outlook remaining uncertain due to the ongoing Middle East conflict.

A new set of forecasts will be published alongside the decision at 12 p.m. London time on Thursday, and Governor Andrew Bailey will hold a press conference an hour later.