50 of 62 economists polled by Reuters said that they expect the Bank of England (BoE) to cut the policy rate once more this year, in the fourth quarter, by 25 basis points to 3.75%.
“Economists in the poll still expect inflation to peak around current levels, suggesting most have not made changes to their forecasts during August, which tends to be a quiet month with many away on summer holidays,” Reuters noted.
Market reaction
GBP/USD showed no reaction to this headline and was last seen trading marginally higher on the day at 1.3520.
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