On June 19, Patrick Munnelly, an analyst at Tickmill Group, said in a report that the Bank of England may hint at a possible interest rate cut in August in its upcoming interest rate decision. The latest data released showed a weakening of the UK labor market and easing inflation, which calls into question the outlook for the Bank of England. However, he said that rising energy prices due to the ongoing conflict in the Middle East have reduced the likelihood of a rate cut in August. The Bank of England is widely expected to leave interest rates unchanged at 4.25% in today's statement.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Institution: The Bank of England may hint at a rate cut in August.
On June 19, Patrick Munnelly, an analyst at Tickmill Group, said in a report that the Bank of England may hint at a possible interest rate cut in August in its upcoming interest rate decision. The latest data released showed a weakening of the UK labor market and easing inflation, which calls into question the outlook for the Bank of England. However, he said that rising energy prices due to the ongoing conflict in the Middle East have reduced the likelihood of a rate cut in August. The Bank of England is widely expected to leave interest rates unchanged at 4.25% in today's statement.