BoE Set to Hold Interest Rates Amid Middle East Uncertainty

The Bank of England is poised to maintain its interest rate at 3.75% next week, despite growing concerns over inflation triggered by the Middle East conflict.

Economists predict a majority of the Bank's rate-setting committee will opt for stability, with some experts forecasting a seven-to-two vote in favour of keeping the current rate.

This decision comes amid easing inflation rates, which have dropped to a 15-month low of 2.6% in June, according to the Office for National Statistics (ONS).

However, oil prices have surged above $100 per barrel, driven by tensions between US-Israeli and Iranian forces, sparking concerns over potential supply disruptions and higher energy costs.