Via a note from Goldman Sachs over the weekend on their expectations for the Bank of England next year:
- Bank of England first 25 bp rate cut in August
- to be followed by similar decreases made at each policy meeting until the Bank rate reaches 3% in mid-2025,
Prior to this Goldman Sachs were projecting one rate cut per quarter.
GS cite theeir reasoning for expecting quicker cuts now
- a quicker decline in inflation
- quicker pace is more in line with historical cutting cycles
- also expect ECB easing
