The Bank of England is widely expected to keep interest rates unchanged after official figures showed Inflation in the U.K. holding steady at an annual rate of 2.2% in August, with higher airfares offset by lower fuel costs and restaurant and hotel bills.

The Bank of England on Thursday said it would hold interest rates steady following its initial cut in August, even after the U.S. Federal Reserve opted for a jumbo rate cut the day before.The Monetary Policy Committee voted by 8 to 1 to hold,