According to TechFlow, on September 19, according to Jinshi Data, the Bank of England's Monetary Policy Committee (MPC) kept the benchmark interest rate unchanged as expected, which was within market expectations. As inflationary pressures continue to ease, experts expect the Bank of England to enter a rate cut cycle starting in November. James Smith, a British economist at ING, said: "The Bank of England is expected to accelerate the pace of rate cuts throughout the winter. We predict that there will be continuous rate cuts starting in November, reducing the bank rate to 3.25% by the summer of 2025."
The market generally believes that the Bank of England may start a new round of interest rate cuts before the end of the year. Previously, the Bank of England had cut interest rates by 25 basis points for the first time in August. As inflationary pressures further ease, the room for monetary policy adjustments is gradually expanding. It is reported that the UK inflation rate has shown a gradual downward trend since the beginning of this year, from 4% in January to 2.2% in August. Although it has rebounded slightly from the low of 2% in May and June, it is still in a downward channel overall.