According to Jinshi Data on July 26, Barclays fixed income strategist Moyeen Islam said in a report that the Bank of England is expected to cut interest rates by 25 basis points to 5.0% at next week's meeting, but the voting result was very close to 5 to 4.
Economists expect the vote to be tight, with five members expected to vote in favor of a rate cut and four against, as well as voting to keep the policy rate at 5.25%.
Markets are pricing in a 48% chance of a rate cut in August, while there is a 52% chance of keeping rates unchanged, according to Refinitiv. Islam said an August rate cut would be "less restrictive rather than a shift to an accommodative policy stance."
