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BoE preparing the ground for interest rate cuts

Two key developments at this week’s Bank of England policy meeting implied the Bank is shifting closer to cutting interest rates. And more striking were the comments by the Bank Governor in an interview after the policy announcement that appeared to prepare the ground for rate cuts. As a result, we have become a bit more confident in our forecasts that interest rates will be cut from 5.25% in June and to 3.00% next year.

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