TechFlow news — On September 19, according to Jinshi Data, the Bank of England's Monetary Policy Committee (MPC) kept the benchmark interest rate unchanged as expected. With inflationary pressures continuing to ease, experts anticipate that the Bank of England could enter a rate-cutting cycle starting in November. James Smith, ING's UK economist, stated: "We expect the Bank of England to accelerate the pace of rate cuts throughout the winter. We forecast consecutive rate reductions beginning in November, bringing the bank rate down to 3.25% by the summer of 2025."
The market widely believes the Bank of England may initiate a new round of monetary easing before year-end. Earlier, the central bank made its first rate cut of 25 basis points in August. As inflationary pressure further subsides, room for monetary policy adjustment is gradually expanding. UK inflation has been on a steady downward trend since the beginning of this year, declining from 4% in January to 2.2% in August. Although it has slightly rebounded from the 2% lows seen in May and June, inflation remains generally on a downward trajectory.
