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Donald Trump has piled pressure on the US Federal Reserve to cut interest rates as he tries to soften the blow from his own tariffs.

The Bank of England kept its main U.K. interest rate unchanged at 4.50% on Thursday even though the economy is barely growing and the nation faces more uncertainty in light of the tariff policies being enacted by the Trump administration in the U.S. The decision by the nine-member Monetary Policy Committee was widely expected, and comes a day after the U.S. Federal Reserve also kept interest rates unchanged. Minutes from the meeting showed that eight members voted to keep policy unchanged, with one backing a quarter-point reduction.

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NEW YORK (Reuters) -Investors are taking some comfort from the U.S. Federal Reserve's wait-and-see approach, after being rattled by tariff-related turmoil that poses a threat to markets and the economy. Since returning to the White House on January 20, U.S. President Donald Trump's rapid-fire tariff policies have spooked stock markets and dented consumer and business confidence, with investors balancing hopes of a pro-business, deregulatory and lower tax agenda against fears of a trade war and potential recession. Fed policymakers signaled a cautious stance of their own on Wednesday at a policy meeting that left interest rates unchanged but acknowledged rising risks to both growth and inflation.

The Trump administration is considering a plan to extend Chevron's license to pump oil in Venezuela and impose financial penalties on other countries that do business with the South American nation, the Wall Street Journal reported on Thursday, citing people familiar with the discussions.

Wall Street has been swinging for weeks on a roller-coaster ride, as stock prices veer on uncertainty about what President Donald Trump’s trade war will do to the economy. Stocks got a boost Wednesday after the head of the Federal Reserve said the economy remains solid enough at the moment to leave interest rates where they are. Another report saying sales of previously occupied homes were stronger last month than economists expected accelerated the stock market's gains, while a third report said manufacturing growth in the mid-Atlantic region appears to be better than economists expected.