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.

The Federal Reserve on Wednesday approved its first interest rate hike since 2023 and indicated another to come.

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

The Bank of England is set to announce its latest decision on interest rates at noon. It's widely expected to hold rates at 3.75%, but economists have warned that pressure to hike them is mounting as inflation rises.

Interest rates, which you might already be familiar with since they're often referred to regarding loans and mortgages, also affect money sitting in your bank account. Money in your checking and savings accounts can earn interest, and the APYs of these accounts are affected by Federal Reserve interest rates as well.

The Federal Reserve hiked interest rates. Now, if you want to finance a tech upgrade, you'll pay more in interest.

Most economists think the Bank’s Monetary Policy Committee (MPC) will opt to keep interest rates unchanged at its next meeting on Thursday.

Here are seven of the best ETFs to buy if interest rates rise: