The Bank of England held interest rates at 4.5% and warned against assumptions that they would be cut over its next few meetings as it grappled with deep uncertainty hanging over the British and world economies.

The Bank of England has kept its main U.K. interest rate unchanged at 4.50% even though the economy is barely growing and the nation faces more uncertainty in light of the tariff policies being enacted by the Trump administration in the U.

The Bank of England on Thursday announced its latest interest rate decision, warning of increased global uncertainty.