1302 GMT - Despite the Bank of England's 25-basis-point rate cut, U.K. rates at 4.5% remain significantly higher relative to peers, particularly in Europe, says PGIM Fixed Income's Katharine Neiss in a note. Given continued strength in wage rises, firms' input costs, and rising energy prices, PGIM FI continues to expect the BOE to cut rates in a limited and gradual fashion for the foreseeable future, the chief European economist says. The continued vulnerability of U.K. assets to shifts in market sentiment is another factor likely weighing on the BOE's rate decision, she says. (emese.bartha@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 08:02 ET (13:02 GMT)
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