Bank of England Expected to Hold Interest Rates at 3.75% on June 18

The Bank of England is widely anticipated to maintain its interest rates at 3.75% at the upcoming Monetary Policy Committee meeting on June 18. This expectation comes as the UK economy experienced a contraction in April, influenced by the ongoing Iran war. Inflation has risen to 3.3% and is projected to increase further this year, leading to a divergence of opinions among experts regarding the necessity of future rate hikes to combat the inflationary effects of the conflict.