BoE Stays Put on Interest Rates Amid Middle East Tensions

The Bank of England is expected to keep interest rates steady at 3.75% next week, despite growing concerns over inflation in the wake of the Middle East conflict.

Economists have predicted a seven-to-two vote in favor of holding the current rate, with experts from Oxford Economics and Nomura leading the charge.

The decision comes as consumer price index inflation eased back to a 15-month low of 2.6% in June, due in part to a slowdown in food and fuel prices.

However, economists warn that inflation is likely to rise again later this year, driven by higher energy costs and household bills.