Bank Of England Delays First Rate Cut Decision

Tourists shelter from the rain under an Union Jack umbrella near the Bank of England in the City of London

The Bank of England is expected to delay its first interest rate cut since the financial crisis as policymakers assess the impact of the Brexit vote on the economy. The decision comes amid growing uncertainty over the UK's future relationship with the European Union.

Analysts predict that the Bank of England will keep interest rates on hold at 0.75% at its upcoming meeting. This cautious approach is seen as a way to buy time and gather more data before making any significant policy changes.