Bank of England expected to hold rate at 3.75% today
Business
The Bank of England is expected to hold its main interest rate steady at 3.75% during Thursday's meeting.
This move comes as inflation worries linger, thanks to global tensions and expensive energy, especially after oil prices spiked due to the Iran conflict closing off a key shipping route.
Bank of England trimmed inflation forecast
Recently, the Bank of England trimmed its inflation forecast for this year, now predicting a peak just above 3.25%, down from earlier estimates.
Most experts think the bank will stick with current rates, aiming to guide inflation back toward its 2% goal.
After the decision, Governor Andrew Bailey will share updated forecasts that investors are watching closely.