BoE: A quarter per quarter – Rabobank
Source Fxstreet
The Bank of England’s MPC cut the benchmark rate by 25bp to 4.75%. This was fully expected by analysts and markets. The vote was split 8-1, with only Mann dissenting, Rabobank’s Senior Macro Strategist Stefan Koopman notes.
The next cut to 4.50% to commence in February
“The theme of gradualism remains key. Governor Bailey gave no spoilers, but we continue to interpret this as a quarter per quarter. We expect the next cut to 4.50% in February.”
“The MPC thinks the Budget adds to both growth and inflation, so it can’t cut interest rates too quickly or by too much. That said, it also thinks inflation will be under control with Bank rate falling to 3.7% by the end of 2025.”
“We also forecast Bank rate ending up at 3.75% in late 2025.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As of the European session today (June 24), gold prices ( XAUUSD) remained weak and fell intraday, touching an intraday low of $4,050 to hit a near two-week low, signaling clear short-ter
Gold (XAU/USD) drifts lower for the second straight day – also marking the fifth day of a negative move in the previous six – and drops to a nearly two-week low during the Asian session on Wednesday.
WTI languishes near March lows, holds above mid-$72.00s amid easing supply concernsWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – consolidates during the Asian session on Wednesday and currently trades just above mid-$72.00s, near its lowest level since early March, touched the previous day.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – consolidates during the Asian session on Wednesday and currently trades just above mid-$72.00s, near its lowest level since early March, touched the previous day.
Deutsche Bank Slashes Gold Price Forecast by 22%: Wall Street Bulls Retreat, Fed Rate Hike Expectations Become Biggest Drag Wall Street investment banks are collectively cooling on their bullish sentiment toward gold. Following Goldman Sachs ( GS) sharply cutting its gold price targets last week, Deutsche Bank
Wall Street investment banks are collectively cooling on their bullish sentiment toward gold. Following Goldman Sachs ( GS) sharply cutting its gold price targets last week, Deutsche Bank
The USD/JPY pair holds steady near 161.55 during the early Asian session on Tuesday. Progress in US–Iran peace talks and intervention fears from the Japanese authorities might cap the upside for the pair.
