The Bank of England left its key interest rate unchanged at 3.75% for a fourth consecutive meeting after fresh data showed inflation holding steady and the labour market continuing to cool without a sharp deterioration.

New inflation data has reinforced expectations that policymakers will not need to increase interest rates at the next announcement on Thursday.

The Bank of England is expected to hold interest rates at 3.75% on June 18 as UK inflation at 2.8% remains above its 2% target amid geopolitical

The base rate has remained at 3.75 per cent since just before Christmas last year