The Bank of England is set to lower interest rates in response to escalating global trade tensions stemming from Donald Trump's tariffs, which threaten UK jobs and economic growth. Financial markets are anticipating a near-certain quarter-point cut from the current 4.5% base rate, with some experts advocating for a more substantial half-point reduction. The overall trade outlook is declining, leading to reduced business and consumer confidence, particularly in the UK. Economists warn that Trump's trade wars may push US prices up and heighten recession risks globally, thereby impacting UK economic stability.
The Bank of England is expected to cut interest rates amid concerns over UK jobs and growth due to Donald Trump's unpredictable global trade policies.
Some economists argue for a half-point cut to help businesses and households as Trump's trade battles lead to global economic slowdown.
Confidence levels have fallen sharply as fears grow that Trump's tariffs will hurt economic activity worldwide, impacting both consumers and businesses.
Economists predict that the current week's decisions by central banks will greatly influence financial markets, with the UK poised for a significant rate cut.
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