Traders expect Bank of England to gradually cut interest rates next year

According to Jinshi Data, data on Wednesday showed potential inflationary pressures in the UK economy, and traders still believe that the Bank of England will gradually cut interest rates next year. Derek Halpenny, head of global market research at MUFG, said the Bank of England will maintain a cautious stance, and yields and interest rate spreads will support the pound.

Jeremy Batstone-Carr, European strategist at Raymond James, said that given the weak economy, the Bank of England may consider easing policy once inflationary pressures dissipate.