The Bank of England has voted to keep interest rates on hold at 4.5 per cent. This decision was widely expected amid ongoing a background of economic uncertainty and a surprise increase in inflation in the UK last month.

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 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.