0847 GMT - The Bank of England might not reduce interest rates again this year given its more hawkish stance when it announced a quarter-point rate cut on Thursday, says Pantheon Macroeconomics' Robert Wood and Elliott Jordan-Doak. A surprisingly large minority of four rate-setters voted to keep rates on hold. The bank's refreshed forecasts that raised inflation expectations matched the cautious feeling of the vote, the economists say in a note. Policymakers added a new sentence to their guidance that upside risks around medium-term inflation pressures have moved slightly higher since May. "It's far from a slam dunk, but we are happy to keep our out-of-consensus call for no more rate cuts this year," they say. (edward.frankl@wsj.com)
(END) Dow Jones Newswires
August 08, 2025 04:47 ET (08:47 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.