BoE Expected to Cut Rates at Thursday’s Policy Meeting

The Bank of England is anticipated to announce a cut in interest rates on Thursday. Current betting odds suggest a full consensus on a reduction to a record low of 0.25% following the post-Brexit era. There is also speculation that the Bank may reintroduce its asset purchase program, which has been inactive since 2012. Additionally, an inflation report is expected, and the Bank may extend the timeline for achieving its inflation targets. Barclays forecasts that the U.K. economy will contract by 0.3% in the third quarter and by 0.4% in the fourth quarter.