1303 GMT - The continued loosening of the U.K. jobs market should prompt the Bank of England to cut interest rates later this year, Fitch Ratings' Jessica Hinds says in a note. The decision to hold the key rate at 3.75% was more finely balanced than expected, and the meeting's accompanying statement acknowledged that judgments around further policy easing will become a closer call, she says. The deterioration in the labor market will likely dampen demand and wage pressures sufficiently for the bank to cut three times in 2026 to 3%, however, Hinds says. (edward.frankl@wsj.com)

(END) Dow Jones Newswires

February 05, 2026 08:03 ET (13:03 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.