The Bank of England is set to keep interest rates on hold Thursday as fears grow that the conflict between Israel and Iran will escalate to involve the United States and send oil prices soaring and push U.K. inflation further above target.
The bank's nine-member Monetary Policy Committee is widely expected to hold its main interest rate at the two-year low of 4.25% as they await to see how the conflict in the Middle East pans out over coming days.
