While cutting interest rates from 4.75% to 4.50% today, which was the third 25 basis point (bps) cut in seven months, the Bank of England showed some signs that it may cut rates faster and further than our forecast of a decline to 3.50% by early 2026. That forecast is already below investors’ expectations of a fall to 3.75%. And with the Fed’s cutting cycle over, a big gap in UK/US interest rates is on the way.
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