1158 GMT - The Bank of England's next move is more likely to be a cut to interest rates than a hike, Suren Thiru at The Institute of Chartered Accountants in England and Wales says in a note. After keeping interest rates on hold at 3.75% Thursday, the central bank is likely set for a prolonged policy pause as it assesses geopolitical uncertainty and domestic political instability, Thiru says. "U.K. monetary policy currently sits at a crossroads." The U.S.-Iran peace agreement has raised hopes that inflation could ease, but any return to hostilities could "quickly tilt the balance back towards rate hikes," he says. Moreover, a rate cut is unlikely to come before next year given elevated global turbulence, Thiru says. (don.forbes@wsj.com)

(END) Dow Jones Newswires

June 18, 2026 07:58 ET (11:58 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.