0920 GMT - While the Bank of England may want to view rising inflation as temporary, January data showing it rose to 3.0% suggest it could be a while before the base rate is cut again, says Jeremy Batstone-Carr, strategist at Raymond James Investment Services. The key question for the bank's monetary-policy committee is how transitory these price pressures will be, he says. The BOE voted unanimously in favor of cutting its interest rate two weeks ago, but since then its chief economist Huw Pill has cautioned against cutting rates in haste, despite weak economic activity. "Today's data vindicates this steadfast commitment to a gradual approach to further policy easing," Batstone-Carr says. (edward.frankl@wsj.com)
(END) Dow Jones Newswires
February 19, 2025 04:20 ET (09:20 GMT)
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