BoE hints at possible cuts before Fed

Rate cuts may exceed market expectations, Andrew Bailey says

Andrew Bailey
Andrew Bailey
Bank of England

The Bank of England (BoE) held rates at 5.25% in a decision split 7–2 today (May 9), as governor Andrew Bailey signalled a rate cute is possible as early as June.

“It is likely that we will need to cut the bank rate over coming quarters, possibly more so than is currently priced into markets,” Bailey said.

However, he added a change in the rate in June “is neither ruled out nor a fait accompli”.

If the BoE cuts rates over the summer, it would almost certainly be moving before its counterpart in the

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