Interest rate cut more likely due to Brexit uncertainty, says Bank

Bank of England leaves rates on hold but signals that could change in near future

Brexit uncertainty and the slowdown in global growth has weakened the economy and made an interest rate cut more likely, the Bank of England has said.

The central bank said interest rates would remain at 0.75% after a unanimous vote of the monetary policy committee (MPC) on Thursday, but it signalled that further Brexit uncertainty amid a US-China tariff war could warrant a rate cut in the near future.

Related: Bank of England warns of one in three chance of Brexit recession