Before the war in Iran erupted, the Bank of England was widely predicted to be on course to cut interest rates at its meeting next week. But the U.S. and Israel's attack on major oil producer Iran, and the turmoil engulfing the wider Middle East as the war escalates, have put the brakes on a March rate cut, economists have predicted. "BoE cuts are possible in the first half of 2026, but March is off the table and April requires a clear calming of geopolitical tensions," Allan Monks, chief U.K.