According to ChainCatcher, Barclays analysts expect the Bank of England to vote 8 to 1 to maintain interest rates and reduce the asset purchase facility (APF) assets by 100 billion pounds.

"We believe that there is a certain probability that Ramsden and/or Taylor will vote with Dingla to support a rate cut, so our 1-8 voting ratio is expected to be at risk of 3-6." The tone of the meeting statement is expected to remain cautious, while acknowledging that inflation has made further progress towards a sustainable return to the target. Existing guidance around the need to maintain restrictive policies is likely to remain unchanged. Interest rates are expected to be cut by 25 basis points in November, December, and February, May and August next year, reaching 3.75% by August 2025.