The Bank of England (BoE) is preparing for the November meeting amid a divided market over the possibility of keeping the interest rate at 4% or cutting it further. New data shows inflation has decreased to 3.8%, lower than expected, while wage growth is slowing, making the upcoming decision hard to predict.

• Bank of America, Deutsche Bank, and Macquarie are leaning towards the scenario of maintaining the interest rate, waiting for clearer signals regarding the Autumn Budget (26/11).

• Analysts believe that BoE will be cautious, waiting for further signals from inflation and fiscal policy before making cuts in December.

• The market currently prices in a 30% chance that BoE will cut in November, reflecting a high level of uncertainty.

👉 The current focus is on the Autumn Budget – a factor that could shape the direction of UK interest rates in the near future.

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