BoE Expected to Hold Interest Rate at 3.75%

The Bank of England is set to hold its policy rate at 3.75% on Thursday, according to market analysts.

This decision comes after UK inflation figures remain well above the BoE's target, and despite a surprisingly hawkish 6-3 vote from the Monetary Policy Committee (MPC) in July that indicated increased anxiety about the inflationary effect of the Iran conflict.

BoE Governor Andrew Bailey said there was no sign of second-round consequences yet, but continued conflict and wider pricing pressures would likely require higher interest rates.