City Analysts Eye UK Rate Cut
NEWS
LONDON -- The Bank of England's Monetary Policy Committee may cut UK interest rates by 25 basis points this week, but the decision will be a close call, City analysts told FX Week.
"We are looking for a 25 basis point cut at this week's meeting," said Will Rugg, senior currency analyst at Standard & Poor's MMS in London. "I think the Bank will use it [a cut] as an insurance policy against the global economic slowdown risks."
The bank last eased monetary policy in February, when it cut rates by 0
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