The firm sees the BOE cutting its bank rate by 25 bps on 30 January
Their previous forecast had a cut only in the May meeting, and with the latest change they also see a second rate cut in either Q2 or Q3 this year. The firm alluded to the recent GDP data, which shows underlying deterioration in the economy.
As things stand, the OIS market sees about a nearly 50% chance of the BOE cutting rates later this month with a full 25 bps rate cut priced in by the September meeting:
