-- Bank of England Governor Andrew Bailey may deliver a lift to British consumers with a stronger signal on when the central bank can lower borrowing costs from their highest in 16 years.Trump Judge Indefinitely Postpones Documents Case Trial
A 7-2 split, with most backing unchanged policy, is seen as a possibility after near unanimity at the last meeting. Deputy Governor Dave Ramsden is deemed the most likely to join Dhingra in voting to cut after a dovish tilt in a recent speech. “We think if the committee viewed June as a possible meeting for a cut, it would probably need to outline at meeting what further evidence it would need to see by June,” said Anna Titareva, an economist at UBS.Another clue to the BOE’s thinking will come with the new inflation forecasts, which are underpinned by the market’s bets on rate cuts.
“Too soon, but getting closer. That is the message that we expect the BOE to send tomorrow,” said Matthew Landon, global market strategist at JPMorgan Private Bank. “The stronger start to the year for the UK economy leaves us in the August camp for the first cut, but we would be surprised to see Bailey shut the door on June altogether.”
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