On May 7, Jin10 reported that analysts at TD Securities stated in a report that if the Central Bank of the UK hints at a stronger rate cut in Thursday’s policy decision, the British pound may weaken. They indicated that the Central Bank of the UK might decide to cut rates by 25 basis points with a vote of 8 in favor and 1 against, with policymaker Dhingra likely voting for a 50 basis point cut. Amid increased trade uncertainty, the Central Bank of the UK may also lower its economic growth expectations and remove the word “gradual” from further rate cut guidance. “The inflation level is below market expectations and the forecasts of the monetary policy report, which gives members confidence in continuing rate cuts.”
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