The Bank of England currently seems unlikely to act before August given that growth in the first quarter appears to have been around trend, while survey evidence indicates that inflationary expectations have risen recently.
More Quotes from Howard Archer:
The minutes pour more cold water over the prospects for a near-term interest rate cut.Howard Archer
The evidence of marked improvement in the manufacturing sector further guarantees there will be no interest rate cut this Thursday. Indeed, we admit it is looking increasingly questionable whether interest rates will be trimmed further.
Howard Archer
Below the headline data there are some positive features that should not be overlooked.
Howard Archer
The slowdown in euro zone growth will not deter the ECB from raising interest rates in March and a further hike remains very likely in June.
Howard Archer
With consumer price inflation below the 2 target level in both December and January and clearly below the levels forecast by the Bank of England in their November quarterly inflation report, a near-term interest rate cut suddenly looks a very real possibility again.
Howard Archer
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