0818 GMT - The Bank of England could remain wary about cutting rates despite a drop in headline annual inflation, MHA's Joe Nellis tells clients in anote. Consumer prices rose 2.8% in February, easing from 3.0% in January, figures show Wednesday. But the underlying data show inflationary pressures remain strong, Nellis says. That will likely keep the BOE's rate setters careful about cutting rates too much or too quickly, he says. "We now expect a cautious rate-cutting strategy from the Bank for the foreseeable future and only be looking at two more cuts before the year is out," Nellis says. (joshua.kirby@wsj.com; @joshualeokirby)

(END) Dow Jones Newswires

March 26, 2025 04:18 ET (08:18 GMT)

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