Economist: UK GDP data is disappointing, but not enough to prompt the Bank of England to cut interest rates. According to Suren Thiru, an economist at the Institute of Chartered Accountants in the UK, on March 13th, despite the sluggish economic data in January, any hope of the Bank of England cutting interest rates has been dashed as concerns about stagflation intensify. The UK's gross domestic product remained unchanged in January. Although these data may exacerbate concerns about the health of the economy, interest rate setters will be deeply concerned about the new inflation risks brought about by the Middle East conflict. Thiru said, "With the energy crisis and supply chain disruptions bringing the UK closer to stagflation and eroding the Chancellor of the Exchequer's fiscal space, any remaining momentum in the economy has now disappeared." However, he said it is too early to talk about interest rate hikes because policymakers are likely to overlook the direct impact of soaring energy prices.