Investors now think the first interest rate cut will happen in June next year instead of August, with an 80% chance of a cut by May. Our forecast is that the Bank of England won’t cut interest rates until late in 2024, later than the Fed (in March) and the ECB (in April). It makes sense that the Bank will be the last of this trio to cut rates. But there is a clear risk that the Bank won't be as far behind the Fed and the ECB as we expect.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services