The market widely expects the Bank of England's Monetary Policy Committee (MPC) to keep the benchmark interest rate at 3.75% on Thursday, but it may signal a hawkish stance, leaving room for a November rate hike. UK CPI rose to 3.1% in August, higher than the central bank's July forecast of 2.8%, and economists expect inflation to approach 4% early next year. Concurrently, the central bank will announce its new annual quantitative tightening plan, with market consensus predicting a slowdown in scale from the previous year's £70 billion to £50 billion. Market pricing currently indicates an approximately 12% probability of an immediate rate hike on Thursday.