Bank of England to make knife-edge call on interest rates as markets favor cut: Live updates

Bank of England Likely to Announce Interest Rate Cut #

Several analysts expect the Bank of England (BOE) to announce an interest rate cut on Thursday, but uncertainty surrounds the decision due to a lack of clear signaling from the central bank. U.K. inflation has hit the BOE’s 2% target for two consecutive months, yet markets anticipate a 61% probability of a 25-basis-point reduction in the key rate. The BOE is known for providing less forward guidance compared to other central banks, making this decision a particularly close call. The decision will be followed by a press conference, as well as the release of the quarterly Monetary Policy Report, containing economic growth and inflation projections.