Far more interesting than the probable decision by the Bank of England to leave interest rates at 5.25% on Thursday 20th June will be any clues on how soon and how far rates will be cut. If inflation falls as far as we expect, we think the easing cycle will begin in August and that rates will be cut to 3.00% next year, rather than to 4.00% as investors anticipate.
We’ll be discussing the outlook for Bank of England, ECB and Fed policy in a 20-minute online briefing at 3pm BST on Thursday 20th June. (Register here.)
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