(Reuters) – BlackRock on Monday said it was cutting its UK gilt portfolio allocation to underweight as the rout in British government bonds since Finance Minister Kwasi Kwarteng’s fiscal statement continued unabated. “The Bank of England will need to hike rates higher to rein in price pressures, and we believe the move raises serious questions about the UK’s fiscal credibility,” BlackRock said in it’s weekly market commentary on Monday. (Compiled by the Global Finance & Markets Breaking News team)