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Bank of England survey bolsters calls for 2024 rate cuts
Financial markets are near-enough pricing six rate cuts from the Bank of England this year. Policymakers are highly reticent to endorse that, though the latest data from the Bank’s own Decision Maker Panel survey indicates that investors are right to be thinking about a series of cuts this year. The survey of Chief Financial Officers (CFOs) continues to suggest that inflationary pressures are easing noticeably. Expected price growth among corporates has slipped further to 4.2%, down from a high of almost 7% in mid-2022. BoE hawks would – and have – argued that firms have been consistently revising down expected ... (full story)