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Bank of England Prepares to Cut Rates into Uncharted Territory

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The Bank of England looks ready to cut interest rates for the first time since 2009 on Thursday, seeking to stop Britain’s vote to leave the European Union from kicking the country into recession.

It may even go a step further and pump billions of pounds into financial markets.

Economic surveys have pointed to a sharp slowdown since the BoE wrong footed markets just over two weeks ago, when it kept rates on hold while it considered a bigger, unspecified package of stimulus, which policymakers said was likely in August.

Reuters

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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