0935 GMT - Investors slightly reduce their expectations of the Bank of England cutting interest rates in March after BOE monetary policy committee member Catherine Mann emphasised the need for restrictive monetary policy to tackle inflation. Mann was last week one of two the BOE's nine policymakers who unexpectedly voted to cut rates by a larger 50 basis points, rather than 25 basis points. "The key risk is that the run-up in inflation for salient items like food and fuel causes another period of domestic, second-round inflationary effects," she said in a speech at Leeds Beckett University. Markets price a 27% chance of a March rate cut following the speech, down from 29% beforehand, LSEG Refinitiv data show. (miriam.mukuru@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 04:35 ET (09:35 GMT)
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