Tomasz Wieladek, chief European economist at T.Rowe Price, said that the Bank of England needs to be cautious about the extent of interest rate cuts after stronger retail sales data. Retail sales in the UK increased more than expected in September, and continuous rapid interest rate cuts may increase consumer demand. This could trigger a new round of inflation. Therefore, interest rate cuts are likely to be gradual.

Tomasz Wieladek, chief European economist at T.Rowe Price, said that the Bank of England needs to be cautious about the extent of interest rate cuts after stronger retail sales data. Retail sales in the UK increased more than expected in September, and continuous rapid interest rate cuts may increase consumer demand. This could trigger a new round of inflation. Therefore, interest rate cuts are likely to be gradual.