The Bank of England is not expected to change interest rates today. But markets are pricing in almost a 50-50 chance of a rate cut in June, so the focus is on whether policymakers will lay any groundwork for easing in six weeks.
Academic Swati Dhingra had already voted for the cuts in March and was joined this month by deputy governor Dave Ramsden. Gov. Andrew Bailey has expressed confidence in cutting rates this year, without giving a timetable for doing so.
The cut is fully planned for August, and last week short positions in sterling rose to their highest level since January 2023, so...
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