Richard Carter: Bank of England expected to keep interest rates unchanged, focusing on Middle East situation

According to Golden Ten Data on July 22nd, Richard Carter of Quilter Cheviot stated that the Bank of England expects to keep interest rates unchanged at 3.75% while waiting for clear signs of the impact of the Middle East conflict. The inflation rate in the UK fell to 2.6% in June. Richard Carter stated that there is still a possibility of another full-scale conflict in the Middle East, which will put pressure on inflation rates. At present, the market expects the Bank of England to raise interest rates by a cumulative 40 basis points in 2026.