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MNI August BOE Review

BOE
  • In line with our own and most analysts' base cases, the BOE delivered the first 25bp cut of the cycle through a 5-4 vote in which some members voting for a cut described their decision as "finely balanced."
  • We look in detail at the rationale for the cut, updated forward guidance and the new projections (both short-term and over 2-3 years).
  • We also look at the potential for a (temporary) 8 member MPC and the voting outlook for the September / November meetings.

For the full PDF including summaries of over 25 sellside views click here.

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