The Bank of England is poised to extend its slow run of interest rate cuts on Thursday with investors watching for any signs that it could soon pick up the pace as U.S. President Donald Trump's tariffs weigh on the world economy.

The Bank of England is set to cut interest rates by a quarter point this week and may even pave the way for a series of back-to-back reductions for the first time since 2009 as it responds to America’s global trade war.

President Donald Trump’s widespread tariffs have increased uncertainty about the outlook across the globe, and BOE officials say that’s more likely to bring inflation rates down rather than push them up.