Bank of England likely to maintain interest rates

The Bank of England (BoE) will announce its interest rate decision this week amid global economic uncertainty. It is expected to keep rates steady at 4.5%, following a cut last month, with a 95% chance of holding rates. The BoE faces challenges as UK inflation is projected to rise above its 2% target, influenced by strong earnings growth and regulated price increases. The UK economy contracted by 0.1% in January, complicating the BoE's decision-making. Central banks worldwide, including the US Federal Reserve and the Bank of Japan, will also announce their interest rate decisions this week. The Fed is expected to maintain its current rates due to trade-related uncertainties.