Bank of England could cut bank rate to 5.00% in Q2 2024 – Reuters Poll
Source Fxstreet
All 70 economists participated in a recently conducted Reuters poll said that they expect the Bank of England (BoE) to hold the policy rate unchanged at 5.25% at the February 1 policy meeting.
38 of those economists noted that they expect the BoE to lower the policy rate in the second quarter and the median forecast for the bank rate by end-June stood at 5%.
Market reaction
This headline failed to trigger a noticeable reaction in Pound Sterling's valuation. At the time of press, GBP/USD was trading modestly higher on the day at 1.2720.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
EUR/USD steadies in a tight range around 1.0400 in Friday’s European session as the US Dollar (USD) trades cautiously ahead of the United States (US) Nonfarm Payrolls (NFP) data for January, which will be published at 13:30 GMT.
TradingKey - As the first nonfarm payrolls (NFP) report of 2025 approaches, the Federal Reserve’s rate cut prospects and markets such as gold and U.S. stocks face a critical test. Following unexpected
TradingKey - On Thursday, February 7, tech giant Amazon (AMZN.US) released a mixed Q4 2024 earnings report after the market close. While revenue and profits exceeded expectations, disappointing guidan
Gold’s price (XAU/USD) edges higher and trades back up near $2,865 at the time of writing on Friday after its rather sluggish performance the previous day.
The Pound Sterling (GBP) ticks lower to near 1.2420 against the US Dollar (USD) in Friday’s European session ahead of the United States (US) Nonfarm Payrolls (NFP) data for January, which will be published at 13:30 GMT.
