Updated on March 20, 2025 at 9:05 p.m.
LONDON, United Kingdom — The Bank of England kept its key interest rate at 4.5 percent Thursday, as it warned of «a lot of economic
Updated on March 20, 2025 at 9:05 p.m.
Kingdom — 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 4.5 percent, opting against a fourth cut in seven months despite stagnant UK economic growth as inflation stays elevated.
On Wednesday, the US Federal Reserve and Bank of Japan held borrowing costs steady, while Switzerland’s central bank trimmed rates Thursday.
“There’s a lot of economic uncertainty at the moment,” Bank of England governor Andrew Bailey said in a statement.
The BoE noted in minutes of a regular policy meeting that “global trade policy uncertainty has intensified”.
“Other geopolitical uncertainties have also increased and indicators of financial market volatility have risen globally.
“The German government has announced plans for significant reform to its fiscal rules,” the central bank said.
