1358 GMT - The risks are probably skewed towards the Bank of England opting for limited further rate cuts this year, rather than increasing the pace of them, says Jessica Hinds at Fitch Ratings' economics team in a note. The BOE cut rates by 25 basis points to 4.50% but said in its statement that it sees persistent inflation as a bit more likely. Catherine Mann, normally the most hawkish MPC member, surprised with a call for a larger 50 basis-point reduction, but this doesn't necessarily signal a desire for large ongoing cuts. The MPC continues to emphasize a gradual approach to rate cuts which is more or less consistent with four cuts this year to 3.75%, as Fitch Ratings' economics team expects, she says. (emese.bartha@wsj.com)

(END) Dow Jones Newswires

February 06, 2025 08:58 ET (13:58 GMT)

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