Economist poll of the Bank of England shows cut next week but uncertainty on December
globalreutersOctober 28, 20241 Mins read All 72 economists surveyed by Reuters expect the Bank of England to lower rates to 4.75% next week but what happens at the subsequent meeting on December 19 is far less certain.
Of the 72, there are 46 who predict no change and 26 predict a cut. The majority expecting a hold runs counter to market pricing, which is 82% for a December cut, and higher than that if you assume the BOE delivers next week.
Through the end of 2025, the OIS market prices in 125 bps in rate cuts, which would still leave the BOE at 3.75%.
The pound is up 25 pips to 1.2984 today.
This article was written by Adam Button at www.forexlive.com.
Recent Posts
Categories
Related Articles
Zelensky says Russia used new missile in attack on Ukraine today
The missile was reportedly fired from Astrakhan and targeted critical infrastructure in...
GBPUSD Technical Analysis – Waiting for a breakout
Fundamental OverviewThe US Dollar continues to consolidate despite the higher-than-expected inflation figures...
ECB’s Patsalides: If Dec projections confirm baseline scenario, there is room to cut rates
Approach to rate cuts must be gradualBut if December projections confirm baseline...
DegenLayer Introduces the First Memecoin Focused Blockchain
DegenLayer, a newly launched memecoin focused blockchain & trading terminal app suite,...
Leave a comment