At the policy meeting on Thursday 21st March, the Bank of England will almost certainly keep interest rates unchanged at 5.25% for the sixth time in a row and retain its hawkish guidance. But we suspect the data will allow for rate cuts sooner than the Bank suggests and we still think rates will fall to 3.00% in 2025 rather than to 4.00% as priced into the market.
Note: We’ll be discussing the outlook for Fed, ECB and Bank of England policy in a 20-minute online briefing at 3pm GMT on Thursday 21st March. (Register here.)
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