Bank of England set to keep rates on hold as global uncertainty mounts

The Bank of England is likely to keep interest rates on hold on Thursday and stick to its mantra of only gradual moves ahead as it grapples with the fallout from U.S. President Donald Trump’s trade war and mixed news on Britain’s economy. All 61 economists polled by Reuters last week expected the BoE to leave its benchmark interest rate on hold at 4.5%, with the next cut likely in May, followed by further reductions in August and November. While there has been limited news on Britain’s economy since the BoE’s last rate cut on Feb. 6, Trump’s stop-start announcements of tariffs on U.S. allies have thrown financial markets into a tailspin and raised questions about the outlook for inflation around the world.Read More