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The Guardian - UK
The Guardian - UK
Business
Larry Elliott Economics editor

City analysts overwhelmingly predict Bank of England interest rate cut

ING Bank of England MPC Goldman Sachs Inflation Interest Rates
the bank of england building seen through a vintage iron railing
Goldman Sachs expects rates to be reduced by 0.25 points at every one of the BoE’s next nine meetings, taking them down to 2.75% by November 2025. Photograph: Peter Nicholls/Reuters

The Bank of England policymakers are widely expected to cut borrowing costs for businesses and homeowners by reducing official interest rates from 5% to 4.75% when they meet later today.

Financial markets are overwhelmingly forecasting that the Bank’s nine-strong monetary policy committee (MPC) will reduce rates for a second time when it announces its latest decision at noon.

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