LONDON, June 21 Reuters Oil prices stabilised on Wednesday ahead of Federal Reserve Chair Jerome Powell39;s congressional testimony later in the day and as data showing British inflation remained sticky raised the possibility of a hawkish Bank of England policy decision this week.

Brent futures slipped 10 cents, or 0.13, to 75.80 a barrel by 1159 GMT and U.S. West Texas Intermediate WTI crude futures edged down 8 cents, or 0.11, to 71.11.

British inflation defied expectations that it would slow and held at 8.7 in May, data showed on Wednesday, boosting expectations that the Bank of England will raise interest rates by a hefty half a percentage point on Thursday.

Countries are struggling to rein in inflation… and that39;s going to dampen growth and threaten recessions across the globe, said Craig Erlam, senior markets analyst at OANDA.

The main market focus is on Fed officials due to speak later in the day, with Chair Powell39;s congressional testimony on the economy on Wednesday and Thursday the highlight.

Two Fed policymakers and an economist nominated to join them on the central bank39;s Washingtonbased board on Tuesday said their focus is on bringing down toohigh inflation so that the U.S. economy can get back to sustainable growth, which could bolster oil demand.

However, should Powell prompt a hawkish return of rate cut expectations, the U.S. dollar could see some support, ING strategist Francesco Pesole said in a note.

A stronger U.S. dollar is bearish…