The Bank of England is undoubtedly turning more optimistic, but it’s keeping its options open amid some uncertainty surrounding the near-term inflation numbers.
We still narrowly expect the first rate cut in August. The Bank of England has kept rates on hold, but that's soon to change The Bank of England is getting very close to its first rate cut. That much is clear from the latest policy statementwhich, while keeping rates on hold at 5.25%, has a distinctly more optimistic flair. It echoes recent comments from Governor Andrew Bailey, who has been hammering home the message that the UK’s inflation outlook is quite different to the US.
We’re still leaning slightly more towards an August start date for rate cuts, though it’s a close call. What isn’t in doubt, is that the Bank is comfortable with moving ahead of the Fed. A look at the new forecasts shows the all-important inflation projection for two years’ time bang on 2%. That forecast is premised on market rate expectations, and what that tells us – at least implicitly – is that the Bank isn’t uncomfortable with current market pricing for two rate cuts this year.
Macroeconomics CPI Inflation Countries
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Op-ed: My bank, their bank or our bankOne of the most important conversations newlyweds need to have is figuring out how and who will pay the bills. That goal can be reached in so many ways.
Read more »
Op-ed: My bank, their bank or our bankOne of the most important conversations newlyweds need to have is figuring out how and who will pay the bills. That goal can be reached in so many ways.
Read more »
Regulators close Republic First Bank, marking first US bank failure this yearThe lender is the first FDIC-insured institution to fail in the U.S. this year.
Read more »
Regulators close Philadelphia-based Republic First Bank, first US bank failure this yearRegulators closed Philadelphia-based Republic First Bank, making it the first US bank failure this year.
Read more »
Regulators close Philadelphia-based Republic First Bank, first U.S. bank failure this yearRegulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New York.
Read more »
Regulators close Philadelphia-based Republic First Bank, first US bank failure this yearLancaster, Pa.-based Fulton Bank NA, agreed to assume substantially all of the failed bank’s deposits and buy essentially all of its assets.
Read more »