The minutes accompanying the Bank of England's decision showed that inflation is now expected to rise to around 4% in the first quarter of next year, up from the current 3.1%. LONDON (AP) — The Bank of England kept interest rates on hold Thursday while indicating that it could raise them soon in order to dampen inflationary pressures emanating from the fallout of the Iran war . The decision was widely anticipated, with six members of the Monetary Policy Committee voting to keep rates unchanged, while three backed a quarter-point increase to 4%. Though borrowing rates were kept on hold, financial markets think it’s more likely than not that the bank will back an increase at one of the next two policy meetings, either in November or December.
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