| Delayed 11:40:00 01/07/2024 BST | 5-day change | 1st Jan Change | ||
| 0.7891 GBX | -0.19% |
|
+0.08% | +0.45% |
| 06-28 | US Dollar Falls Early Friday Ahead of Personal Income, Chicago PMI, Michigan | MT |
| 06-28 | ING Comments on Euro, Sterling, Swiss Franc | MT |
LONDON (Reuters) - Investec, a bank, said on Wednesday it now expected three 25 basis-point interest rate cuts by the Bank of England in 2024 rather than its previous call of two and it said inflation was likely to fall to around 1.5% in the July-to-September period.
"It is feasible that the economy remains subdued for longer and that this weakens both the labour market and the inflation profile by more than we are forecasting," Investec Chief Economist Philip Shaw said in a note to clients.
"However in the absence of a major negative shock to the economy our core view remains that the five cuts in interest rates which are currently priced into UK markets for 2024 are a touch excessive."
(Writing by William Schomberg, editing by Andy Bruce)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 0.8485 GBX | -0.02% | +0.27% | - | ||
| 0.7891 GBX | -0.19% | +0.08% | - | ||
| 0.5766 GBX | -0.29% | -0.14% | - | ||
| 0.5267 GBX | -0.13% | +0.46% | - | ||
| 0.009458 GBX | -0.36% | 0.00% | - | ||
