The central financial institution could elevate charges by a half level to 1.75 % in August, from 1.25 %.
This could be the most important single rise made by the group because it gained independence in 1997.
Rates of interest have already elevated for 5 months in a row, as inflation has hit 9.1 %, with many Britons struggling to pay their payments.
Sir Jon Cunliffe, deputy governor of the Financial institution of England for monetary stability, faces a tough balancing act.
