The Bank of England is widely expected to hold interest rates as inflation stays above target

Associated Press

LONDON (AP) — The Bank of England is widely expected to keep interest rates unchanged after official figures showed Inflation in the U.K. holding steady at an annual rate of 2.2% in August, with higher airfares offset by lower fuel costs and restaurant and hotel bills. The latest reading from the Office of National Statistics on Wednesday means that inflation remains just above the British central bank’s goal of 2% for the second month running. Most economists think the bank’s monetary policy committee will take a pause on Thursday as some panel members have voiced ongoing worries about price rises in the services sector, which accounts for around 80% of the British economy.