Interest rates hold expected but Bank of England facing tough choices

The Bank of England is expected to keep its benchmark rate at 3.75% in its upcoming announcement, despite inflation rising to 3.1% in August, the highest in six months. This price increase is partly driven by rising energy costs, exacerbated by the conflict in the Middle East. Members of the Monetary Policy Committee are divided on whether a rate hike will be necessary before the end of the year.