The first interest rate cut in seven years could be on Thursday, according to financial markets, which are pricing in a 75% chance of the move from the Bank of England to calm the reeling economy.
Speaking to the Financial Times over the weekend, Capital Economics spokesman Jonathan Loynes said he didn’t think the Monetary Policy Committee, which meets on Thursday, would want to ‘disappoint market expectations.’
At the end of June, Bank of England Governor, Mark Carney hinted broadly a rate cut could be on the way over the summer and has been roundly criticised by Brexit supporters for promoting ‘doom and gloom.’
However, a poll of 52 economists from Reuters suggested a cut of 0.25% was more likely on 4 August or September.
The monthly Monetary Policy Committee meets on Thursday this week with its decision expected at midday.
The last rate cut was in March 2009.
Victoria Hartley is contributing editor at Mortgage Solutions, Specialist Lending Solutions, Your Money and Your Mortgage at London-based publishing company AE3 Media.
She has an MA in Radio from Goldsmiths after gaining a 2:1 in a Comparative American Studies BA at Warwick University. She also holds a TEFL qualification and taught overseas in Mexico and Japan from 1994 to 1997.
Her role includes editorial oversight of the news, analysis and features, event content management and strategic and editorial consultancy for the AE3 Media group. She is an experienced video, broadcast and live-event host and regularly chairs web and podcast debates and interviews.
Multiple award nominations have resulted in two wins: Santander Media Awards, trade journalist of the year and Headlinemoney Awards, mortgage journalist of the year (B2B). Here is one of the award-winning pieces: https://www.mortgagesolutions.co.uk/news/2011/07/21/exclusive-tale-bailey-fraud-witness/
Previous roles include editorships of Mortgage Solutions, consumer title What Mortgage and trade title Credit Today as well as a stint freelancing for a variety of outlets including The Guardian and Which? Money.
