The Bank of England is expected to keep its main interest rate at 3.75% as it assesses the economic impact of the Iran war and the closure of the Strait of Hormuz. Economists suggest that interest rates may increase in the coming months if the conflict increases inflation. The Monetary Policy Committee is expected one or two members may vote for a quarter-point increase as a precautionary measure. The bank's quarterly economic projections will also be published at the same time as the decision. The war has significantly impacted the bank's predictions and global economic forecasts.