[Deutsche Bank: Rising Inflation in the UK May End Discussions of Rate Cuts by the Bank of England This Year] Sanjay Raja of Deutsche Bank stated in a report that, given the surge in energy prices, returning to the Bank of England's 2% inflation target currently seems far out of reach. Raja said: 'The rebound in inflation will dispel any talk of rate cuts this year. Moreover, the risk of the Bank of England reversing its policy direction and raising the benchmark interest rate can no longer be ignored.' He noted that fuel prices rose nearly 7% in March and could see similar increases in April. The likelihood of inflation spreading to other components of the Consumer Price Index (CPI) basket is rising, with fertilizer prices increasing, transportation costs soaring, and the prospect of second-round effects also becoming harder to overlook. He added that inflation is expected to peak at around 3.5% later this year. (Sina Finance)