HSBC's United Kingdom interest rate strategy director Daniela Russell stated in a report that the market may be underestimating the scale and speed of interest rate cuts by the United Kingdom's central bank. Refinitiv data shows that the market expects the Bank of England to cut rates by 56 basis points by the end of 2025. HSBC economists, on the other hand, predict that the Bank of England will cut rates 6 times in 2025, each time by 25 basis points."However, due to uncertain prospects, and considering that the Bank of England is taking a gradual meeting approach, it may take some time to truly gain a foothold," Russell said.