The Bank of England is expected to keep interest rates unchanged at 5.25% as it aims to balance the impact of higher rates on the UK economy. Slow economic growth and signs of a slowing job market have led to predictions of no rate change.
Rates have been increased since December 2021 in an effort to combat high inflation in the UK. Currently at 6.7%, inflation remains more than three times higher than the Bank of England's 2% target.
The Bank's decision will be announced at midday, but money markets have placed a 92% chance that rates will be held steady.