Institution: It is expected that the Bank of England will cut interest rates by another 75 basis points this year

Mars Finance News, on May 8, Pantheon Macroeconomics' chief UK economist Robert Wood stated that he is lowering the economic growth forecast for the UK in 2025 and 2026. He now expects the country's GDP to grow by 0.9% and 1% in 2025 and 2026 respectively, which is lower than the previous forecast of 1.1% and 1.5%. Although the inflation rate dropped to 2.6% in March, it is expected to significantly rebound in the coming months, potentially reaching 3.4% in the second quarter and only declining to 3.3% by the end of the year. Most data since the last forecast assessment would typically keep the MPC in an absolutely cautious position. However, President Trump's tariffs have disrupted the global economy and disturbed financial markets. In this context, Pantheon Macroeconomics anticipates that the Bank of England will make three 25 basis point rate cuts this year, including consecutive cuts in May and June, and a final cut in November. (Jin Shi)