THE Bank of England has kept UK interest rates at 4.5 per cent, as policymakers warned uncertainty over global trade had intensified following new US tariffs.
Eight members of the Bank's nine-person Monetary Policy Committee voted to keep rates on hold on Thursday while they assess the impact of economic and political developments globally.
“Since the MPC’s previous meeting, global trade policy uncertainty has intensified, and the United States has made a range of tariff announcements, to which some governments have responded,” the committee said in a summary of its latest decision.
This has seen US President Donald Trump impose 25 per cent tariffs on UK steel and aluminium imports, as well as on Canada, China and Mexico, rattling confidence. The MPC said there were risks to the economic outlook for several countries, including the UK, and uncertainties about how the policy chan...
Eight members of the Bank's nine-person Monetary Policy Committee voted to keep rates on hold on Thursday while they assess the impact of economic and political developments globally.
“Since the MPC’s previous meeting, global trade policy uncertainty has intensified, and the United States has made a range of tariff announcements, to which some governments have responded,” the committee said in a summary of its latest decision.
This has seen US President Donald Trump impose 25 per cent tariffs on UK steel and aluminium imports, as well as on Canada, China and Mexico, rattling confidence. The MPC said there were risks to the economic outlook for several countries, including the UK, and uncertainties about how the policy chan...
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Daily Record (Digital) - 1 Issue, March 21, 2025