GBP JPY LOOKS VERY CONFUSING TO ME but lets see what happens today
fomc minutes gbp boe monitary policy
There is a good chance that the Bank of England (BoE) could lower interest rates soon, with a cut widely anticipated in its next Monetary Policy Committee (MPC) meeting in November or December. However, the overall outlook on rate cuts remains mixed. Some analysts expect a cut as inflation rates have fallen from their highs, but recent fiscal policies, like the October budget, may temper any aggressive cuts due to potential inflationary effects. The BoE might proceed cautiously to balance inflation control with economic growth, and some experts even believe any cuts could be modest in the near term until inflation stabilizes further.
Looking ahead, rates are expected to continue gradually lowering into 2025, but experts caution that the UK’s rates may not return to the extremely low levels seen pre-2020, as broader economic factors remain in play. For the November meeting, however, a rate cut of about 0.25% is currently expected, which could impact mortgage and borrowing rates accordingly.
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