BOE keeps interest rates steady at 4.5%

Bank of England kept interest rates steady at 4.5%, in line with expectations.

This decision comes at a time when the United Kingdom is facing headwinds for its economy, both abroad and at home. Globally, US President Donald Trump’s tariffs pose a major dilemma for many countries, in addition to their potential impact on inflation and economic growth in the UK. Domestically, the UK economy is showing signs of weakness, contracting by 0.1% month-on-month in January.

The Bank of England had warned at its last meeting in February that it would exercise caution in its decisions, lowering its forecast for British economic growth for 2025.