Bank of England poised to hold interest rates steady despite inflation rise

The Bank of England is poised to keep interest rates on hold (John Walton/PA) - (PA Wire)

The Bank of England is poised to keep interest rates on hold as policymakers opt for a cautious approach while weighing up the impact of war in the Middle East on the cost of living.

But experts have said an interest rate increase could remain on the horizon if the conflict continues to put pressure on UK inflation.