[EY: Bank of England May Not Raise Interest Rates] Jin10 News, April 15 – Bansi Madhvani, an economist at Ernst & Young (EY), stated that conflicts in the Middle East and the resulting rise in energy prices have brought a stagflation shock to the UK economy. In the coming months, the UK's overall inflation rate is expected to rise year-on-year by more than 3.0%, while economic growth is projected to fall below 1.0%. She also noted that prolonged energy price shocks increase the likelihood of a recession. Therefore, the Bank of England may not raise interest rates in response to the direct impact of rising energy prices but instead adopt a wait-and-see approach.