ICYMI Goldman Sachs changed their forecast for Bank of England rate cuts. None in December

I posted the headline on this yesterday:

• Goldman Sachs forecasts Bank of England to hold rates at Dec meeting (vs. prior 25bp cut)

But the Bank of Japan kept me tiede up and I did;t get a chance to add in a bit more. Here we go:

• GS expect a 25bp rate cut from Bank of England next week, November 7
• then a hold in December (the BoE meeting is December 19)
• then a cut to follow at the first meeting for 2025, February 6
• the Bank of England Bank Rate projected to fall to 3% by the ned of next year

Not everyone is on board with a November BoE cut:

• BMO now thinks Bank of England likely to hold rates unchanged next week

This article was written by Eamonn Sheridan at www.forexlive.com.