1042 GMT - Investors revise down expectations for future interest-rate cuts by the Bank of England after data showed the U.K. economy unexpectedly rose by 0.4% in December, resulting in 0.1% growth over the quarter. Wednesday's stronger-than-expected U.S. inflation data also increased concerns about growing global inflationary pressures keeping interest rates higher. Money markets now only fully price in a BOE rate cut in June, having previously priced this for May, LSEG data show. The chances of a rate cut in March has dropped to 21% from 27% last week. The U.K. economy remains fragile, however. Next week's U.K. labor market and inflation data could reignite rate-cut expectations, XTB's Kathleen Brooks says in a note. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 05:42 ET (10:42 GMT)
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