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Bank of England to hold rates on Feb 5, slim majority expect March cut: Reuters poll
Most economists expect the Bank of England to hold rates at 3.75% in February, with only 55% forecasting a cut by March amid stronger economic data and persistent inflation.
- Reuters' poll of 56 economists found all but two expect the Bank of England to hold Bank Rate at 3.75% on February 5, with a small majority forecasting a 3.50% cut in March.
- Recent data showed the strongest private sector business growth since April 2024, unexpectedly strong retail sales and inflation above the MPC's 2% target, limiting support for immediate rate cuts.
- The poll covered 56 economists between Jan 21-26 and showed only around 55% expected a cut by end-March while 45% forecast hold through Q1, with no majority view beyond and a median cut to 3.25% in Q3.
- Forecasts show the UK economy to grow 1% this year and 1.4% next, with inflation easing from 2.5% this year to 2.1% in 2027 as Ellie Henderson noted effects from January and April.
- The nine-member Monetary Policy Committee has been tightly split, with some voters considering `skipping Q1 entirely` as early signs of housing revival emerge, said Sanjay Raja.
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Bank of England to hold rates on Feb 5, slim majority expect March cut: Reuters poll
The Bank of England will hold its benchmark interest rate at 3.75% at its February meeting, according to all but two economists polled by Reuters, with only a small majority now expecting it to fall to 3.50% in March following a run of better economic news.
·United Kingdom
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Total News Sources3
Leaning Left0Leaning Right0Center2Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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