Analysts forecast rate cuts by Bank of England, citing softer wage growth & inflation

<p>Snippets from analysts on the 2024 outlook for the Bank of England:</p><p>Goldman Sachs predict the first rate cut from the BoE in May, a 25bp rate cut to the Bank rate</p><ul><li>then further 0.25% cuts at each policy meeting until the base rate hits 3pc by May 2025</li><li>citing "softer sequential wage growth and inflation data"</li></ul><p>Capital Economics forecast for the first Bank of England rate cut has moved to June (previously had tipped November)</p><ul><li>sees a reduction in the key rate from 5.25% to 3% in 2025</li></ul><p>Deutsche Bank </p><ul><li> thinks rates could be cut to 4% by the end of 2024</li><li>citing expectations for inflation to drop to the 2% target in April or May, and says a soft landing is the bank's base case</li></ul><p>***</p><p>Bank of England dates ahead for this year:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.