BoE Holds Rates Amid Oil Price Surge and Inflation Worries

The Bank of England is expected to keep interest rates at 3.75% when its Monetary Policy Committee meets on Thursday, but the decision may not be unanimous.

Analysts believe that two members, Huw Pill and Megan Greene, could vote for a rate hike, as they have done previously.

A surge in Brent crude oil prices to just shy of $100 per barrel is also set to influence the Bank's decision, with some economists warning that pressure is building on inflation again.

Inflation slowed to 2.6% in the year to June, but a reset in the energy price cap is predicted to push it above 3% in the second half of the year.