Bank set to hold interest rates after steady inflation and Iran peace deal (opens original article in a new tab)

The Bank of England is expected to maintain interest rates at 3.75% as inflation remains stable and a US-Iran peace deal could ease energy prices, though inflation is forecast to rise later this year.

• Bank of England to hold interest rates at 3.75% due to stable inflation and US-Iran peace deal prospects
• CPI inflation remained at 2.8% in May, below economists' 3% prediction
• Oil prices dropped near pre-conflict levels following US-Iran peace deal announcement
• UK inflation expected to rise in summer due to Ofgem price cap and Iran war impact
• European Central Bank raised rates while US Fed to announce decision on Wednesday