BoE Set to Hold Interest Rates Amid Rising Inflation Concerns

The Bank of England is expected to hold interest rates at 3.75% next week despite concerns over inflation.

Economists predict a seven-to-two vote in favor of maintaining the current rate, with some experts attributing this decision to easing inflation and stagnant growth in the UK economy.

The Office for National Statistics reported that UK consumer price index inflation eased back to 2.6% in June, down from a 15-month high.

However, economists expect inflation to rise again, potentially reaching 3.25% later this year due to higher energy costs and household bills.