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The Guardian - UK
The Guardian - UK
Business
Richard Partington Economics correspondent

Markets bet on UK interest rate cuts in 2024 amid recession risk

United Kingdom Recession ​​Rishi Sunak Economy Interest Rates Inflation Bank of England
A bus and pedestrians pass the Bank of England in the financial distri
Money markets moved to price in four quarter-point cuts to interest rates starting from the summer to as low as 4.25% by the end of 2024. Photograph: Neil Hall/EPA

Financial markets are betting the Bank of England will be forced to launch a deep round of interest rate cuts in 2024 amid the growing risk of a recession.

Threadneedle Street is widely expected to leave borrowing costs unchanged on Thursday after warning that interest rates would need to remain high for a prolonged period to tackle stubbornly high inflation.

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