BOE Likely to Cut Rates Further, Weakening Sterling -- Market Talk

Dow Jones12-02

1447 GMT - Sterling could fall by year-end as the Bank of England looks on course to cut interest rates further on Dec. 18, MUFG Bank's Lee Hardman says in a note. Labor market weakness and recent evidence of softer inflation should be sufficient to encourage a rate cut at this month's meeting, he says. Further ahead, the lack of fiscal tightening in last week's U.K. budget doesn't provide additional impetus for the BOE to cut rates more in coming years, he says. However, the fiscal measures will help lower inflation in the year ahead and provide some leeway to cut rates. Sterling trades flat at $1.3211. The euro rises 0.1% to 0.8793 pounds. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

December 02, 2025 09:47 ET (14:47 GMT)

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Labor market weakness and recent evidence of softer inflation should be sufficient to encourage a rate cut at this month's meeting, he says. Further ahead, the lack of fiscal tightening in last week's U.<a href=\"https://laohu8.com/S/TKKD.SI\">K</a>. budget doesn't provide additional impetus for the <a href=\"https://laohu8.com/S/00710\">BOE</a> to cut rates more in coming years, he says. However, the fiscal measures will help lower inflation in the year ahead and provide some leeway to cut rates. Sterling trades flat at $1.3211. The euro rises 0.1% to 0.8793 pounds. 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