Bank of England Holds Rates Amid Rising Inflation Concerns

The Bank of England is set to hold interest rates at 3.75% despite rising inflation, according to economists.

This would be the sixth time in a row that the Monetary Policy Committee (MPC) has kept rates on hold since December.

Economists expect policymakers to continue a 'wait-and-see' approach, particularly regarding the Middle East conflict's impact on the UK economy.

Rising inflation is a concern, with Consumer Prices Index (CPI) increasing to 3.1% in August, from 2.9% in July, marking a five-month high and moving further away from the Bank of England's 2% target rate.