BOE Expected to Hold Rates Amid Rising UK Inflation

The Bank of England is expected to keep interest rates unchanged despite rising inflation in the UK. According to economists, a majority of the nine-member Monetary Policy Committee will vote to maintain the bank's main rate at 3.75% for the sixth consecutive meeting.

This decision comes as inflation has risen to a five-month high, with official figures showing that prices at the pump and airfares were largely behind the increase in the U.K.'s consumer prices index to 3.1% in August from 2.9% the month before.

David Rees, head of global economics at Schroders, believes interest rates will be held because the economic backdrop remains relatively soft, limiting the extent to which imported price pressures become embedded in domestic wages and prices.