The Bank of England is widely expected to hold interest rates when it meets on Thursday, as the U.K. faces economic headwinds both at home and abroad.

The Bank of England has kept the central interest rate at 4.5%, with policymakers warning of increased uncertainty over global trade due to new US tariffs. Eight of the nine members of the Bank's Monetary Policy Committee (MPC) voted to hold rates steady as they assess the impact of global economic and political developments.

The Bank of England kept interest rates on hold and warned investors against assuming they would be cut quickly as it grappled with deep uncertainty hanging over the British and world economies. The BoE's rate setters voted 8-1 to keep borrowing costs at 4.