FKU - Bank of England Sticks To The Script And Keeps Rates On Hold
2024-03-21 10:00:00 ET
Summary
- The Bank of England has been careful not to endorse the idea of a near-term rate cut in its latest policy statement.
- We think it will want to see April and May's inflation data before doing anything, and that pitches June as the earliest date for the first rate cut.
- We're sticking to our call for the first move in August, though.
By James Smith & Chris Turner
The Bank keeps rates on hold as the hawks throw in the towel
The Bank of England has kept rates on hold at 5.25% and, more importantly, it's keeping its so-called forward guidance unchanged. That guidance, which has stayed broadly the same for a few months now, says that rates need to stay sufficiently restrictive for an extended period of time....
Bank of England Sticks To The Script And Keeps Rates On Hold