Forecasts of further rises in the inflation rate mean some analysts expect the Bank to act by the end of the year.

The yen weakened past 157 against the dollar, the yield on the 10-year Japanese Government Bond slipped, while the Nikkei 225 gained 1.5%.

LONDON (AP) — The Bank of England is expected to keep interest rates unchanged Thursday even though inflation in the United Kingdom has risen to a five-month high as the fallout from the Iran war continues to ratchet up fuel prices.

As the war in the Middle East continues to push up energy prices and foster heightened fears about inflation, the Bank of England held interest rates steady on Thursday. The decision to not raise rates this month makes it an outlier among other large global central banks.

The Bank of England held interest rates at 3.75% today but warned that a hike may be necessary if inflationary pressures intensify as a result of the conflict in the Middle East. Six of nine policymakers chose to leave the level unchanged,

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Senior Bank of Canada policymakers agreed that inflation risks had intensified and rate hikes could be required should evidence emerge of higher fuel costs spilling over to prices of other goods and services.

TOKYO, Sept 18 (Reuters) - The Bank of Japan is set to raise interest rates to a 31-year high on Friday and pledge to deliver more to counter inflation risks, which may heighten if the start of a ‌U.S. rate-hike cycle weakens the yen against the dollar.

ECB Governing Council member Gabriel Makhlouf discusses the outlook for inflation, the economy and interest rates. “At a time of uncertainty, every meeting is a live meeting for the European Central Bank,