Economists expect Bank of England to keep rates at 3.75%

The short version

• Economists expect the Bank of England to hold its benchmark rate at 3.75% for a sixth consecutive meeting on Thursday.[BBC News · ABC News]
• Official figures showed UK inflation rose from 2.9% in July to 3.1% in August, driven by petrol, diesel and airfares.[BBC News · ABC News]
• LSEG data put the market-implied chance of a Thursday hold above 80%, while markets anticipate a November increase. That increase remains uncertain.[BBC News · ABC News · CNBC]
• Higher rate expectations affect personal loans and mortgages and add pressure to government debt-servicing costs, ABC News reports.[ABC News]

Key facts

• The Bank of England is scheduled to announce its interest rate decision Thursday at 12:00 BST.[BBC News]
• Economists expect the benchmark rate to remain at 3.75% for a sixth consecutive meeting.[BBC News · ABC News]
• Official figures showed annual UK consumer price inflation increased to 3.1% in August from 2.9% in July.[BBC News · ABC News]
• Governor Andrew Bailey warned that continued war in Iran and oil remaining above $100 a barrel would increase the likelihood of higher interest rates.[BBC News]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• Interest rates hold expected but Bank of England facing tough choicesBBC News - Business
• Bank of England expected to keep interest rates unchanged despite rising inflationABC News - International
• Bank of England set to defy Fed’s rate-hike lead, despite rising inflationCNBC