Bank of England rate cut expected despite ‘fiscal loosening’ of Budget

The Bank of England is likely to cut interest rates next week (John Walton/PA) - (PA Wire)

The Bank of England is expected to cut interest rates next week, despite forecasts that Labour’s autumn Budget could lead to higher inflation over the coming year.

Policymakers will announce the result of their November meeting on Thursday, where most analysts think they will trim the base rate by a quarter-point to 4.75%.