Investors are expecting a rate cut at the next Bank of England meeting in two weeks after the referendum in the UK, according to MarketWatch. Currently, the markets estimate a 40-45% probability of a 25-basis-point cut at the July 14 meeting. There is an assumption that the regulator will decide to wait for the quarterly inflation data, which will be published on August 4. Markets are currently pricing in a roughly 10-basis-point cut to the main lending rate, stress the senior economists at RBC Capital Markets.

 

Photo: forex-investor.net

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