1506 GMT - The Bank of England could implement fewer interest-rate cuts than markets expect due to concerns about U.K. inflation reaccelerating, Jamie Constable, chief market strategist at Singer Capital Markets says in a note. The BOE cut rates by 25 basis points to 4.50% Thursday, but it could struggle to cut further as it forecasts U.K. inflation will rise to 3.7% in the third quarter, Constable says. The BOE could have to switch to a greater focus on growth in order to reduce rates, he says. "The BOE's mandate needs to change from being one dimensional and focused on inflation by adding growth and jobs as it is too restrictive as it is." (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 10:06 ET (15:06 GMT)
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