- 63 of 65 economists expect BOE to cut rates starting August
- All economists polled expect there to be no change to rates later this month
- 35 of 65 economists see two rate cuts by the BOE for this year
- 24 of 65 economists see three rate cuts by the BOE for this year
- Only 3 of 65 economists anticipate more than three rate cuts by the BOE for this year
It has been a while now that markets and the BOE itself have converged to a timeline for an August move. After a more resilient showing in Q1, the UK economy looks set to return to its sluggish roots again in Q2. That will add some pressure for the BOE to move, although price pressures remain relatively sticky for the time being.
It will certainly be a test of the central bank’s resolve with August being just two months away now.
This article was written by Justin Low at www.forexlive.com. Source