The Bank of England kept its key interest rate at 4.5 percent Thursday, as it warned of “a lot of economic uncertainty” caused largely by US President Donald Trump’s tariffs. The BoE left borrowing costs at 4.

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 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.