The rise in oil prices has raised concerns about inflation, and the expectation of the Bank of England raising interest rates in November is heating up

The rise in oil prices has raised market expectations for the Bank of England to raise interest rates in November. Due to the lack of breakthrough progress in the conflict between the United States and Iran, oil prices continue to rise, exacerbating market concerns about further inflationary pressures. Brent crude oil futures prices rose by 2.3% at one point, reaching $106.7 per barrel. The market currently expects an 81% probability that the Bank of England will raise interest rates at its November policy meeting, up from 62% a week ago. (Source: Jin Shi)