Read our Privacy noticeThe Bank of England is expected to hold interest rates again next week despite fresh uncertainty in the Middle East. The recent decline will have provided some relief to the MPC, which uses interest rates as a tool to control inflation. Despite this, in recent weeks economists had largely predicted that interest rates would be kept stable at 3.75% for the rest of the year. Thomas Pugh, chief economist at RSM UK, said he believes oil prices will “largely” steer the path of interest rates for the next year. Rate-setters could be cautious to hike interest rates amid a backdrop of stagnant growth in the UK economy.