Bank of England Keeps Interest Rates on Hold Amid Middle East Uncertainty

The Bank of England is set to hold interest rates at 3.75 per cent on Thursday, according to economists.

This decision comes despite recent uncertainty in the Middle East and US threats that have rekindled concerns over inflation.

Economists are predicting a majority vote among policymakers to keep the current rate steady, with experts from Oxford Economics and Nomura forecasting another seven-to-two vote in favour of maintaining the status quo.

The latest Monetary Policy Committee meeting will also see the Bank unveil fresh economic forecasts, which may be influenced by the deepening Middle East conflict.