On June 17th, Bank of America analysts stated in a report that the Bank of England is unlikely to follow the European Central Bank in raising interest rates on Thursday, but this will not cause substantial damage to market confidence in the pound. The market is currently concerned that the European Central Bank may make policy mistakes. Analysts say that the "second round effect" triggered by high energy prices will be closely scrutinized, which should support further interest rate hikes in the UK in the future. However, if the Bank of England can adopt a more balanced stance between high inflation risks and weak employment risks, the market will welcome it. If the price shock continues, the Bank of England may be seen as lagging behind the situation, but this is not currently the case. Bank of America expects the Bank of England to keep interest rates unchanged on Thursday, but raise rates in July and September.