The Bank of England (Bank of England) is expected to maintain Bank Rate at 3.75% for the rest of the year, according to a Reuters poll. Economists have largely abandoned expectations for cuts but have not anticipated nearly three rate rises this year. However, they disagree with financial market traders' expectations that the MPC will raise interest rates this year due to rising British government bond yields. The forecasts are based on hopes that the Middle East conflict will not continue to escalate and that there is enough slack in the economy to allow policymakers to wait and see if the surge in energy prices turns into inflation pressure. Over 65% of respondents expect rates to remain at the current level of 3.25% through the end of September, with only 12% expecting rates to rise.