After Wednesday's data highlighted the potential inflationary pressures in the United Kingdom economy, traders still believe that the Bank of England will gradually cut interest rates next year. Derek Halpenny, head of global markets research at MUFG, stated that these measures would not change the expectation that the Bank of England will maintain a cautious stance. Yields will continue to be supported, and the interest rate differential will provide support for the British Pound. Jeremy Batstone-Carr, a strategist at Raymond James in Europe, stated that in light of the weak economy, the Bank of England may consider extending a helping hand if possible. Interest rate setters would only do this when inflation pressures have sufficiently dissipated, allowing for policy easing without reigniting inflationary fires.