1202 GMT - The Bank of England's mixed vote split in favor of relaxing monetary policy suggests that concerns over the U.K.'s economic resilience remain prevalent, which leaves the door ajar for a June rate cut, the Institute of Chartered Accountants' Suren Thiru says. This is despite the bank forecasting slightly stronger growth, he says. "With inflation expected to be slightly more subdued and concerns over turbulence in the global economy likely to persist, even with a U.S.-U.K. deal on trade, the case for accelerating the pace of interest rate cuts may still increase." Thiru adds that Thursday's rate cut won't reverse the financial squeeze among households and firms, given other costs are still rising and global headwinds are still elevated. (edward.frankl@wsj.com)

(END) Dow Jones Newswires

May 08, 2025 08:02 ET (12:02 GMT)

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