In other words, they are not expecting any more rate hikes to follow for the BOE from hereon. As for the overall outlook, the firm now expects one rate cut fewer in 2024 though as they now see rates ending next year at 4.00% instead.
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BNP Paribas lowers BOE terminal rate forecast to 5.25% from 5.50% previously
- That comes after the surprise hold by the central bank yesterday
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