BMO Bank expects the Bank of England to hold interest rates steady next week.

BMO Bank issued a research note on Thursday, discussing its expectations regarding the monetary policy decision of the Bank of England at its scheduled meeting next week, where it is expected that the Bank of England will keep interest rates unchanged at this meeting.

The Canadian investment bank argued that the Bank of England may have to maintain interest rates without adjustment in light of the UK's budget and the reaction in bond markets.

Considering the composition of the Monetary Policy Committee and the impact of budget measures on the Bank of England's expectations and ongoing inflation, it is likely that at least five members of the Bank of England's Monetary Policy Committee will vote in favor of keeping the main interest rate stable.

Bank of England member Megan Greene previously stated that Britain faces risks regarding economic growth on both sides - whether upward or downward risks - and also emphasized the importance of caution and a gradual approach when the Bank of England discusses decisions about cutting interest rates.