Danske Bank analysts note that as per expectations, a majority of the policymakers at the Bank of England voted to keep the Bank Rate unchanged at 0.75%.
Key Quotes
“The Bank of England repeated that it thinks GDP growth will ‘pick up from current below-potential rates, supported by the reduction of Brexit-related uncertainties, an easing of fiscal policy and a modest recovery in global growth’. While we agree we are about to see a modest recovery in global growth, we think UK growth will remain subdued for domestic reasons and thus expect Bank of England to cut interest rates in early 2020.”
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