Bank of England dove Branchflower says the Old Lady needs to cut rates rates soon to stave off recession. He expects inflation to plummet and unemployment to rise to 2 million in the months ahead. granted, he has been voting for rate cuts for months, but the economy is playing out largely as he feared. he’ll need four more colleagues to jump on board to move the BOE from its present 7-1-1 alignment. Seven for steady policy, one for hike and Branchflower for a cut.
Cable has fallen back below 1.8300 and EUR/USD trades at 1.4725.
