Slowing economy raises recession fears and the prospect of a rate cut
Industry News | 04/07/19
Financial markets are betting that the Bank of England will cut interest rates this year to shore up growth after disappointing services sector activity data set the economy on course to contract for the first time since 2012.
The probability of a quarter-point rate cut by December, extrapolated from market prices, has been put at 48 per cent. A rate cut is priced for this time next year, in defiance of the Bank’s position that a Brexit deal will be struck and rates will rise shortly.
Source: The Times
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