American romance author and award-winner
The Bank of England has kept Bank Rate at 3.75% in a split MPC vote, citing upside risks from energy prices linked to the Middle East conflict. Inflation is expected to rise later this year, with forecasts showing a potential peak around 3.2% before easing back toward the 2% target.
July saw only modest 0.1% month-on-month growth in UK house prices, with annual growth slowing to 1.8%. Affordability remains a challenge as mortgage rates rise amid geopolitical tensions. Northern Ireland leads price gains while the south and London lag. The Bank of England cautions inflation pressures could rise if the Iran conflict persists.
Inflation in the UK has stayed elevated, driven by higher fuel and airfares, with analysts signaling the Bank of England will hold rates at 3.75% for a sixth straight meeting. A softer labour market and rising energy bills are shaping expectations for future moves.