The Bank of England is expected to hold interest rates at 3.75% amid continued uncertainty in the UK and global economies.
Analysts widely predict the benchmark rate will remain unchanged, with the Bank signalling it needs more time to assess the economic impact of the Iran war and its effect on the cost of living.
The base rate remains the Bank's main tool for controlling inflation, which currently stands at 3.3% - above its 2% target.
Sandra Horsfield, economist at Investec said: "The repercussions of the [Iran] conflict are still keenly felt and uncertainty about how the situation could evolve also remains high, which will be key points the Monetary Policy Committee (MPC) will have to consider."
The MPC is due to announce its decision today, alongside its first full monetary policy report and economic forecasts since the US-Israeli strikes on Iran began in February.