[Economist: Despite Surging Oil Prices, Bank of England Expected to Keep Interest Rates Unchanged] Jin10 News, July 27 – Economists predict that against the backdrop of renewed conflict in the Middle East and soaring energy prices, the Bank of England will make a "hawkish statement" at this week's meeting but will keep interest rates unchanged. Since the last Monetary Policy Committee meeting in June, the breakdown of the U.S.-Iran ceasefire agreement has pushed global oil prices back to around $100 per barrel, while European natural gas prices have surged to their highest levels since the early stages of the conflict. If shipping routes in the Gulf region continue to be disrupted, oil prices could rise further. The UK economy performed better than the Monetary Policy Committee had expected in the early stages of the conflict, with GDP growing by 0.7% in the three months to May. Currently, there is little indication that the energy shock will lead to more persistent price pressures. The CPI has been below expectations for three consecutive months, falling to 2.6% in June. Wage growth, one of the main sources of inflationary pressure, has slowed, and food price increases have also moderated. Economists suggest that this will allow the Monetary Policy Committee to keep interest rates at 3.75% during Thursday's meeting while signaling that if energy prices rise significantly further or if a one-off price shock begins to evolve into a more persistent issue, the committee will be prepared to tighten policy.