The Bank of England left interest rates unchanged on Thursday, keeping the central bank's benchmark rate at 4.5%. In a statement, the central bank said that its Monetary Policy Committee voted in favor of leaving rates unchanged with an 8-1 majority.

The Bank of England is widely expected to hold interest rates when it meets on Thursday, as the U.K. faces economic headwinds both at home and abroad.

The Bank of England has kept the interest rate on hold as it warned of growing economic uncertainty linked to Donald Trump's trade war. The central bank's monetary policy committee, which meets every six weeks to set borrowing costs, voted 8-1 to keep the bank rate unchanged at 4.5%.