Barclays Predicts Bank Of England To Maintain Rates With 8-1 Vote

According to Odaily, Barclays analysts predict that the Bank of England will likely maintain its current interest rates with an 8-1 vote. The analysts also expect a reduction of £100 billion in the Asset Purchase Facility (APF). They noted that there is a possibility that Ramsden and/or Taylor might join Dingra in voting for a rate cut, which could shift the vote ratio to 3-6. The tone of the meeting statement is anticipated to remain cautious, acknowledging further progress towards sustainable inflation targets. The existing guidance on the need to maintain restrictive policies is expected to remain unchanged. Interest rates are projected to be reduced by 25 basis points in November, December, and in February, May, and August of next year, reaching 3.75% by August 2025.