Institution: The Bank of England should pay attention to the UK's weak economy

ChainCatcher news, Tenda Bank economist Sandra Horsfield wrote in a report to clients that the faltering UK economy may lead the Bank of England to cut interest rates further. Data released on Thursday showed that the UK economy returned to growth in November, but the growth rate was below expectations. Horsfield stated that this means the Bank of England's policymakers need to take the disappointing outlook for economic activity this year more seriously.

According to Tenda Bank's forecast, the Bank of England is likely to cut rates by 25 basis points at its meeting in early February, followed by three more cuts before the end of the year. Horsfield said, "Growth below potential increases idle capacity, which should put pressure on inflation in the medium term. The tightening of financial conditions due to rising bond yields has also played a similar role." (Jin Shi)