While the BoE is widely seen lowering interest rates over coming months, there is a clear consensus expecting Thursday’s policy announcement to leave Bank Rate at 5.25 percent, the level to which it was raised back in August 2023. Despite its recent, and surprisingly sharp slowdown, inflation remains well above target and far too high to accommodate any near-term cut in rates. Indeed, there may even be some MPC members who still want another increase – recall that in December, Jonathan Haskell, Catherine Mann and Megan Greene all pressed again for a 25 basis point hike. Consequently, the main market focus this week ... (full story)