Business
Interest rates hold expected but Bank of England facing tough choices
Forecasts of further rises in the inflation rate mean some analysts expect the Bank to act by the end of the year.
BBC Business•
Policymakers at the Bank of England are expected to keep interest rates unchanged despite price rises accelerating due to the prolonged conflict in the Middle East.
The nine-member Monetary Policy Committee (MPC) has been meeting amid a backdrop of increasing global energy prices and interest rate rises around the world.
Economists expect the MPC to hold the benchmark Bank rate at 3.75% for a sixth consecutive meeting but analysts are more divided on whether the rate will need to go up before the end of the year.
In addition, the US Federal Reserve raised its interest rate to 3.5%-3.75% for similar reasons on Wednesday.