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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
- Two analysts (BNP and UBS) shifted their forecast after the May MPC meeting – both now look for a June cut (albeit neither of them shifted their end-2024 forecasts). These are the first forecast changes for some time to bring forward (rather than push back) expectations of the first rate cut.
- A small majority of the analyst reviews we have read now expect a first cut in June (14/25) than in August (11/25).
- The mean end-2024 Bank Rate forecast from the 24 analyst reviews that we have read remains unchanged at 4.48%. 64% of analysts (16/25) expect 4.50% with 4/25 looking for 4.75%, 4/25 looking for 4.25% and Scotiabank looking for 4.00%.
- End 2025 forecasts see just under half of analysts 10/21 looking for a 3.50% rate (the median), and 18/21 (86%) of analysts forecasting a 3.25%-3.75% rate. 4/21 analysts forecast 3.25% and a further 4/21 forecast 3.75%. In terms of the outliers, UBS and UniCredit both look for 2.75% by end-2025 while RBC expects 4.25%.
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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