BlackRock Investment Institute's Chief Investment Strategist for the UK, Paul, stated in a report that the Bank of England could cut interest rates more aggressively than the Federal Reserve in the coming years due to the weak outlook for the UK economy. Structural challenges, such as low productivity, have put pressure on the UK. He said: "The growth outlook for the UK is not optimistic." "We hold a long-term strategic preference for UK government bonds relative to other developed market government bonds." (Gold Ten)