1014 GMT - The Bank of England could cut interest rate at a slower pace than markets expect, sticking to one cut per quarter, ING economist James Smith says in a note. The BOE is widely expected to lower interest rates by 25 basis points in May to 4.25%. The U.K. economy remains resilient and services inflation stays elevated, making the BOE less likely to rush to cut rates, Smith says. "We don't think the [BOE] will move quite as quickly in the short term, but we also see scope for rates to go lower into 2026." Markets price in an additional 96 basis points of BOE interest rate cuts in 2025, LSEG data show. (miriam.mukuru@wsj.com)

(END) Dow Jones Newswires

May 02, 2025 06:14 ET (10:14 GMT)

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