According to ChainCatcher, Robert Wood from Panzner Macro stated in a report that despite the gloomy economic growth in the UK, the Bank of England may remain cautious.
The Bank of England's Monetary Policy Committee will meet next month to decide on its next steps. Under signs of economic slowdown, investors generally expect the key interest rate to be cut by 25 basis points. A few predict a 50 basis point reduction, but Wood said this seems unlikely. Although confidence surveys are becoming increasingly bleak, basic data shows that the UK economy "was running well before recent disruptions," so the Monetary Policy Committee can avoid a significant interest rate cut.
