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.

Interest rates are widely expected to be cut on Thursday, with further falls predicted for later in the year. Analysts say a cut to 4.25% from 4.5% by the Bank of England is highly likely, although no change or a bigger reduction remain possibilities.

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.