[Growth Momentum Weakens, Bank of England May Accelerate Rate Cuts Before June] Jin10 Data, January 8 – Morgan Stanley's Bruna Skarica pointed out in a report that the UK's economic growth is expected to slow in 2026, although forecast risks remain balanced. The UK construction PMI released this week showed weak activity in the sector. Bruna Skarica stated: 'Although there has been some improvement ahead of the budget announcement, the survey continues to signal sluggish economic activity.' Morgan Stanley expects the Bank of England to lower interest rates to a terminal level of 3.0% before June. According to data from the London Stock Exchange, the market has fully priced in a 25 basis point rate cut in the first half of 2026 and the possibility of another rate cut in the second half of the year.