The Bank of England (BoE) is widely expected to leave interest rates unchanged on Thursday as policymakers assess the inflationary impact of the prolonged closure of the Strait of Hormuz and the broader economic consequences of geopolitical tensions, according to Reuters.
The central bank is expected to maintain its benchmark interest rate at 3.75%, extending the pause that has been in place since December. The decision comes as officials weigh elevated energy-related inflation risks against signs of slowing domestic price pressures and a weakening labour market.
