MUFG: Bank of England may cut rates in November, but probably not in December
On November 1st, Henry Cook of Mitsubishi UFJ Financial Group stated that the Bank of England is expected to cut interest rates by 25 basis points to 4.75% on November 7th. However, following the increase in public investment promised in the budget on Wednesday, further rate cuts in December seem unlikely. Some members of the Bank of England's Monetary Policy Committee may be concerned that additional government spending could push up inflation. Data shows that the market expects the Bank of England to cut interest rates by a total of 30 basis points by the end of December.
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