Bank of England Holds Interest Rates Amid Ongoing Middle East Uncertainty

The Bank of England is expected to keep interest rates unchanged at 3.75% despite ongoing uncertainty in the Middle East.

This decision would help prevent a rise in mortgage and borrowing costs, but any relief for households may be short-lived if energy prices continue to climb.

Economists predict that most members of the Bank's rate-setting committee will vote to maintain the base rate, citing concerns about inflation.

The Monetary Policy Committee is set to meet on Thursday 30 July and publish fresh economic forecasts.