Goldman Sachs see a Bank of England rate cut in November, with a cascade of cuts to follow

Goldman Sachs expect the Bank of England to move to consecutive cuts starting at the November meeting

• GS expect a terminall rate of 3%

Goldman analysts cite:

• UK wage growth to slow down – “While the level of pay growth remains high, the sequential pace of pay rises has slowed and important forward-looking indicators have cooled”
• service sector inflation to drop markedly, to 5% by December 2024 and 3.8% by December 2025

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