The Bank of England (BoE) looks set to keep interest rates unchanged at 3.75 per cent on Thursday, despite a recent spike in oil prices above $100 a barrel which may test whether it can avoid raising borrowing costs in response to the US-Iran conflict.
So far, British inflation has come in below the BoE’s forecasts, dropping to a 15-month low of 2.6 per cent in June.
A lag in
