This is a news story, published by CNBC, that relates primarily to The Bank of England news.
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benchmark interest rateCNBC
•World
World
85% Informative
The Bank of England is widely expected to hold interest rates when it meets on Thursday .
The central bank is highly likely to keep its benchmark interest rate at 4.5% at its March meeting.
The decision comes at a time of heightened uncertainty over potential trade tariffs and a fledgling global trade war.
The BOE is also convening as the U.K economy shows signs of stalling.
A rise in market interest rates, high borrowing in fiscal year 2024-25 , and a possible downgrade to the Office for Budget Responsibility's productivity growth assumption have conspired against her.
Without spending cuts or tax rises, the government would miss its fiscal rule of funding day-to-day spending entirely with tax revenue by 2029-30 .
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