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BOE poll: June rate cut from August is a close call

Economists are divided on whether the Bank of England will raise rates next month or wait until August, according to a Reuters poll.

They surveyed 71 BoE economists. Rate reduction expectations are as follows:

  • 38 for August
  • 31 for June
  • 2 for September

This is a slight change from August compared to last month’s poll and comes as UK data has been strong. The consensus for the end of the year remains at 4.50%, unchanged from last month.

Quarterly GDP is expected to increase by 0.3% each quarter until 2025.

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