The BoE's Monetary Policy Committee has decided to hold its base rate at 4.5%, citing global trade changes led by the US and a sluggish UK economy.

The Bank of England left its interest rate on hold at 4.5% today amid growing global economic uncertainty triggered by Donald Trump’s trade wars.The Bank’s Monetary Policy Committee (MPC) voted by a majority of 8 to 1 to keep the cost of borrowing unchanged despite the UK’s faltering economic growth.

The Bank of England held interest rates at 4.5% and warned against assumptions that they would be cut over its next few meetings as it grappled with deep uncertainty hanging over the British and world economies.