BoE Set to Resist Rate Hikes Amid Middle East Uncertainty

The Bank of England is expected to maintain its interest rate at 3.75% despite recent uncertainty in the Middle East, according to economists.

Economists at Oxford Economics and Nomura predict a majority vote in favor of holding the current rate, with some predicting another seven-to-two outcome.

The Monetary Policy Committee will meet on Thursday, July 30, to unveil fresh economic forecasts. Recent inflation data shows that consumer price index inflation eased back to a 15-month low in June at 2.6%.