Interest rate cuts will remain “some way off” even if inflation falls below 2pc in the spring, the Bank of England’s chief economist has warned.
Equity markets were largely in the green across Asia on Friday as they took their cue from a positive U.S. session. Hong Kong’s Hang Seng Index rose 0.5% and Chinese mainland markets also rose. Meanwhile, an official gauge of China’s factory activities edged down to 49.1 from January’s 49.2, the country’s National Bureau of Statistics said Friday.
Stocks also rose following news of strength in the UK housing market.