Bank of England Stands Pat Amid Oil Price Volatility

The Bank of England (BoE) is expected to keep interest rates steady at 3.75% on Thursday, despite recent oil price spikes above $100 a barrel.

This decision comes as markets and economists are split over the BoE's outlook. While some expect a rate hike by September or November, others see no chance of a rise this year.

A Reuters poll showed that market expectations indicate a two-in-three chance of a quarter-point BoE rate rise in September, but only a handful of economists expect a hike this year.