It is still uncertain whether the United Kingdom's central bank will cut interest rates for the first time in August.
It is still uncertain whether the Bank of England will announce its first interest rate cut since 2020 next week, due to the regulations before the July 4th election. Major decision-makers have not spoken publicly for more than two months, making uncertainty greater than usual. Whether recent higher-than-expected service inflation is enough to prevent the central bank from lowering interest rates from the 16-year high of 5.25% is anyone's guess. Interest rate futures indicate a 50% chance of a 25 basis point rate cut on August 1. Although a Reuters survey shows that most economists still expect a rate cut, the Bank of England may wait until the next meeting on September 19 to make a decision.
BOE Could Cut Interest Rates in August But Vote Would Be Tight
Kai-Tong Macro: Singaporean Monetary Authority's economic outlook supports monetary policy easing in October.
On July 26th, Grace Finance | Shivaan Tandon, emerging Asia economist at Capital Economics, said that the slightly moderate statement made by the Monetary Authority of Singapore (MAS) in its July meeting has given Capital Economics more confidence that MAS may relax its policy in October. Tandon said that MAS now appears to have eased its concerns about inflation, as it has made adjustments to its statements in July and April. He also said that MAS did not provide any important clues about its next steps, but seems more confident about the inflation outlook. In addition, MAS may lower the nominal effective exchange rate range for the Singapore dollar.
Express News | The Monetary Authority of Singapore maintains its monetary policy unchanged for the fifth consecutive time.
BOE Could Deliver Three Interest Rate Cuts in 2024, ING Says
UK CBI Order Book Balance Worsens in July