Officials indicated in July that they could support further interest rate cuts if the labour market continued to soften. That is exactly what has happened since, while the upside risks to inflation have also eased. We expect the Bank to cut rates by 25bp next week to 2.5% and judge that at least one more additional cut this year is likely.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.