The Bank of England (BoE) is widely expected to ease its monetary policy stance later this week, with one former official today (August 2) suggesting it has "boxed itself in" in the run-up to the decision.
Its monetary policy committee (MPC) meets August 3–4. Comments from the MPC and its members over the past few months have raised market expectations of easing – potentially a 25 basis point rate cut. One economist believes this has limited the room for manoeuvre.
"The bank has boxed itself in