Strategist: Inflationary pressures remain, Bank of England should be cautious about cutting interest rates

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ODAILY
02-19
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Odaily Odaily News reports that Raymond James investment strategist Barton-Cale said that although the Bank of England may hope to see the rise in inflation as a temporary phenomenon, data for January showed that the inflation rate rose to 3.0%, indicating that it may take some time to further cut the benchmark interest rate. The key issue facing the Bank of England's Monetary Policy Committee is how long these price pressures will persist. The Bank of England unanimously voted to cut interest rates two weeks ago, but its chief economist Peel has since warned that, despite weak economic activity, interest rates should not be cut hastily. "Today's data proves that the Bank of England's firm commitment to gradually easing policy is correct." (Jinshi)

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