Markets Expect BOE Rate Cuts in November and December After Bailey Comments -- Market Talk

Dow Jones10-03 22:37

1437 GMT - Investors are pricing in a high chance of the Bank of England cutting interest rates by a quarter point in both November and December after Thursday's comments by Governor Andrew Bailey. Bailey told the Guardian newspaper that the BOE could become "a bit more aggressive" in cutting rates if inflation news continued to be good. Money markets now price around 41 basis points of rate cuts by year-end, according to LSEG Refinitiv, whereas a more gradual guarterly pace of rate cuts had been expected previously. "It could now take an upside surprise to inflation for the Monetary Policy Committee not to cut rates back-to-back in November and December," says Deutsche Bank strategist Shreyas Gopal in a note. (jessica.fleetham@wsj.com)

(END) Dow Jones Newswires

October 03, 2024 10:37 ET (14:37 GMT)

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