According to money market data, the Bank of England (BOE) is now expected to cut rates by ten basis points by August versus November previously.
The dovish expectations seem to have strengthened in the wake of the new coronavirus lockdown in the UK.
The central bank’s interest rate currently stands at 0.1%. The rate was reduced from 0.25% to 0.10% in March last year to counter the coronavirus-induced slowdown.
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