AssetID: 56029700
Headline: UNCAPTIONED: Bank Of England Expected To Hold Interest Rates At 3.75%
Caption: Bank Of England Expected To Hold Interest Rates At 3.75%. The Bank of England is expected to keep interest rates unchanged as policymakers face growing pressure from rising energy prices and the prolonged conflict in the Middle East. Economists expect the Bank's Monetary Policy Committee to hold its benchmark rate at 3.75 percent for a sixth consecutive meeting. However, analysts are divided over whether rates may need to rise before the end of the year as inflationary pressures increase. Bank of England Governor Andrew Bailey previously warned that rates could have to go higher if the Iran conflict continued and oil remained above $100 a barrel. Oil moved above that level earlier this month and has remained there, with few signs of a lasting truce. The Bank rate influences borrowing and savings costs for households and businesses across the UK. The latest decision will be announced at midday on Thursday. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Bank of England,expected,hold,Interest Rates,3.75%,policymakers,face,growing pressure,rising prices,energy,conflict,Middle East,Monetary Policy Committee,sixth consecutive meeting
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