The Bank of England is expected to keep interest rates on hold later Thursday but hint that another increase could be coming in the spring.

Three months after it raised its main interest rate for the first time in a decade in an attempt to get inflation down, the bank is expected to stand pat given uncertainties related to Britain's departure from the European Union.

The Brexit talks are set to officially recommence soon, but there's a lack of clarity over what Britain's future relationship with the EU will be after Brexit in March 2019.

Many in the markets think that some sort of agreement over the immediate post-Brexit period will be thrashed out soon, allowing the bank to raise its main interest rate again from 0.5 percent.