The Bank of England is widely expected to cut interest rates for the third time in six months later Thursday, even though inflation remains above its target.
Most economists think the nine-member Monetary Policy Committee will lower the bank's main interest rate by a quarter of a percentage point to 4.50%, taking it to its lowest level since mid-2023. The base rate helps dictate how expensive it is for individuals to take out a mortgage or a loan, while also influencing the returns offered by banks on savings.
Of particular interest to financial markets is what the bank's accompanying economic forecasts show and the tone of Gov. Andrew Bailey in his ensuing press briefing.
