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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
BOE
- Of the 20 analyst previews that we read, 12 have changed their base case on either the timing or magnitude of MPC cuts since their published views immediately after the March meeting.
- In terms of the first cut, expectations have been pushed back a little, with no analysts expecting a cut at this meeting and an equal number now looking for June or August.
- The mean end-2024 Bank Rate forecast from the 20 analyst previews that we have read has risen to 4.50% from 4.31% after the March MPC meeting. 60% of analysts (12/20) expect 4.50% (which was also previously the mode) but there is no downward skew now with 4/20 looking for 4.75% and 4/20 looking for 4.25%. The median expectation has shifted up from 4.25% to 4.50%.
- End 2025 forecasts are starting to firm up, too, with 9/19 (47%) looking for a 3.50% rate (the median), and 16/19 (84%) of analysts forecasting a 3.25%-3.75% rate. This has seen the mean rise to 3.47% from 3.16% after the March meeting (a 31bp increase). Previously 58% of analysts had expected a 3.00%-3.50% range, with the median rate at 3.00%.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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