Rolling coverage of the latest economic and financial news
European bank UniCredit are also predicting a cut to UK interest rates today.
They point out that the decision looks to be a very close call, but point to lower-than-expected inflation, a deteriorating labour market and likely significant fiscal tightening in the upcoming Autumn Budget.
We expect the BoE’s Monetary Policy Committee (MPC) to cut the bank rate by 25bp to 3.75%. Financial markets are pricing in only a 20-30% chance of a rate cut today, but a 60-70% chance of a cut by the end of the year.
Today’s MPC decision is likely to be very close. Four of nine MPC members (Megan Greene, Clare Lombardelli, Catherine L Mann and Huw Pill) are hawkish and dissented against the BoE decision to cut rates in August. Governor Bailey could potentially have the deciding vote.
“Net sales were flat organically in Q1, with growth in Europe, LAC and Africa offset by weakness in Chinese white spirits and a softer US consumer environment than planned for.
We are not satisfied with our current performance and are focused on what we can manage and control; acting with speed to drive efficiencies, prioritising investment and adapting more quickly to an evolving consumer environment.
Continue reading…Rolling coverage of the latest economic and financial newsEuropean bank UniCredit are also predicting a cut to UK interest rates today.They point out that the decision looks to be a very close call, but point to lower-than-expected inflation, a deteriorating labour market and likely significant fiscal tightening in the upcoming Autumn Budget.We expect the BoE’s Monetary Policy Committee (MPC) to cut the bank rate by 25bp to 3.75%. Financial markets are pricing in only a 20-30% chance of a rate cut today, but a 60-70% chance of a cut by the end of the year.Today’s MPC decision is likely to be very close. Four of nine MPC members (Megan Greene, Clare Lombardelli, Catherine L Mann and Huw Pill) are hawkish and dissented against the BoE decision to cut rates in August. Governor Bailey could potentially have the deciding vote.“Net sales were flat organically in Q1, with growth in Europe, LAC and Africa offset by weakness in Chinese white spirits and a softer US consumer environment than planned for.We are not satisfied with our current performance and are focused on what we can manage and control; acting with speed to drive efficiencies, prioritising investment and adapting more quickly to an evolving consumer environment. Continue reading…
