[Analyst: Bank of England Should Be More Hesitant to Raise Rates Than the European Central Bank] According to a report by Berenberg analysts on June 12, as reported by Jinse Finance, it seems reasonable that the Bank of England is more reluctant to raise interest rates compared to central banks in Europe. They stated that the UK labor market is weaker than that of the Eurozone, and the service sector is no longer driving inflation as significantly as before. Berenberg analysts noted that, at the same time, interest rates were already more restrictive before the energy shock, and fiscal conditions remain tighter. They added that after a strong start to the year, the country is now facing sluggish economic activity, as the Iran war weighs on economic performance. Due to a "statistical illusion" caused by changes in seasonal spending patterns since the pandemic, the first quarter was already weaker than it appeared. Berenberg analysts stated: 'We expect stagnation during the summer, with quarterly GDP growth rates of zero in both the second and third quarters.'