MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI INTERVIEW2: Poland To Push For EU Defence Fund

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

EZ/UK Bond Supply Calendar: Belgium ORI Facility on Friday

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

VIEW CHANGE: RBC still looks for first cut in August but then shallower cutting cycle

BOE
  • RBC continues to look for the first cut in August but rather than 100bp of cuts this year, it now expects 2x25bp cuts in August and November to leave Bank Rate at 4.75% by end-2024. It continues to look for 50bp of cuts in 2025 to leave the terminal rate 50bp higher than previously at 4.25%.
  • "The economy is now recovering earlier and more strongly than expected while the labour market (even after this week’s data) remains relatively tight and wage growth elevated."
  • "Our thinking is that the MPC would seek a (somewhat) higher burden of proof to commence either a hiking or cutting cycle which is why we naturally lean to an MPR meeting (when fresh forecasts are published and a press conference held afterwards) as the starting point for the commencement of a fresh cycle. "
Homepagemarkets-real-timeCreditBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

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.