Bank of England holds interest rates steady, warns of global uncertainty

The UK’s central bank held base interest rates steady at 4.5% Thursday, indicating it would take a “gradual and careful” approach to further easing amid sluggish wage growth and a looming trade war.

The Bank of England’s announcement was littered with references to uncertainty — Bloomberg counted nine.

“Since the [Monetary Policy Committee’s] previous meeting, global trade policy has intensified, and the US has made a range of tariff announcements, to which some governments have responded,” the Bank said in a statement.

The decision comes a day after the US Federal Reserve and the Bank of Japan also left interest rates unchanged at 0.5%, in line with market expectations, with the Japanese bank citing caution over the “ever-evolving situation regarding trade.”