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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
3/22 analyst reviews we have read still look for a first cut in May (Deutsche, Morgan Stanley, TD Securities) although all point to risks of a later cut. 10/22 look for June (from 7/22), 9/22 for August (from 10/22) and no one now looks for September (pre-meeting 2/22).
View changes:
- CIBC: First cut now Jun24 (rather than Aug24). Continue to look for 25bp cuts in Aug24 and Nov24 (to 4.50% end-2024, rather than 4.75%).
- Daiwa: First cut Jun24 (rather than Aug24). Now look for one cut in each of Q2/3 (rather than 2 cuts in Q3). From Q4-24 look for 25bp per meeting to 2.50% in 2025.
- HSBC: First cut now Jun24 (rather than Aug24). Continue to look for 25bp cuts in Aug24 and Nov24 (to 4.50% end-2024, rather than 4.75%). Continue to see quarterly 25bp cuts through 2025 to 3.50% (rather than 3.75%).
- Rabobank: Now look for first cut in Aug24 (rather than Sep24) with further cuts in Sep24 and Nov24 to 4.50% end-2024 (unchanged). Look for 100bp of cuts in 2025 (rather than 125bp) to 3.50%.
- UniCredit: Expect first cut in Aug24 (rather than Sep24) and continue to expect 75bp of cuts in 2024 to 4.50%.
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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