With the Bank of England almost certain to keep interest rates at 5.25% for the third policy meeting in a row on Thursday 14th December, the focus will be on whether the Bank provides any signals of possible rate cuts to come. However, we suspect it will be wary about causing market rate expectations to shift even more decisively in favour of an earlier rate cut. This will mean it’s reluctant to water down its forward guidance and remove its hawkish bias.
Note: We’ll be discussing the Fed, ECB and Bank of England December decisions and the policy outlook for 2024 in an online briefing on Thursday, 14th December. Click here to register for the 20-minute session.
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