Jack Meaning, chief UK economist at Barclays, said in a note that the BoE was likely to leave interest rates unchanged at 4.50 per cent in its forthcoming March 20 decision and reiterated that future cuts would be gradual. "Nothing in the data since February has materially changed the view of the [BoE] monetary policy committee," he said. He said the BoE was likely to leave policy guidance unchanged at its March meeting and could cut rates by 25 basis points in May.