If you are a private client you will know our stance on interest rates: cuts are coming and they are going to be deep ones. Now the Bank of England has confirmed our predictions. In this subscriber-only article we delve into the analysis and remind our clients: cuts come when economies are in trouble, not when they are growing.
Andrew Bailey, the Governor at the Bank of England has suggested cuts could be more 'aggressive'.
As reported in the British newspaper The Guardian; there was a huge shift in expectations after Andrew Bailey told them the bank could be "a bit more aggressive" in its approach.
That has now tipped financial markets to price in an interest rate cut at the Bank's next meeting on 7 November, sending the pound tumbling as a consequence on the FOREX markets. At the time of writing the GBP (Great British Pound) is down 1.2% against the US Dollar (see chart below).
Well, dear client, it is like we have said:
"This is a race ...
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