Analysis-Markets stumble into rate-cut waiting room as central banks stand firm

Traders eager for central banks to declare the start of interest rate cuts were dealt a further blow on Thursday as the Bank of England joined the U.S. Federal Reserve in dousing hopes of imminent monetary easing. The BoE held rates at 16-year highs and said it needed more evidence that price pressures were falling sustainably before shifting course. The Fed on Wednesday meanwhile shot down market bets for a March rate cut, sparking Wall Street's biggest daily rout since September.