Bank of England Expected to Maintain Rates Amid Inflation Pressure

The Bank of England is expected to hold interest rates steady on Thursday despite U.K. inflation rising to 3.1 percent. The decision comes as energy costs continue to exert upward pressure on consumer prices. The central bank is currently diverging from the Federal Reserve, which has signaled a more aggressive approach to rate hikes. Market participants are monitoring the Thursday policy announcement for signals on how the bank intends to manage persistent inflation.