Economy

Bank of England rate cuts likely later but larger, Goldman Sachs says

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Blurred buses pass the Bank of England in the City of London on 7th February 2024 in London, United Kingdom. 

Mike Kemp | In Pictures | Getty Images

The Bank of England is likely to hold interest rates higher for longer before slashing them more sharply than expected in the second half of the year, new forecasts from Goldman Sachs show.

In a research note released Tuesday, the Wall Street bank pushed back its expectations for rate cuts by one month, from May to June, citing several key inflation indicators “on the firmer side.”

But it said the central bank was then likely to cut rates more quickly than previously anticipated as inflation shows signs of cooling.

Goldman now sees five…



Source cnbc.com

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