Bank of England to hold steady on Jan 30 but chance of a cut high: poll

The Business Times | Jan 17, 2020 at 12:00 AM
  • Sterling fell 0.25 per cent against the dollar after the inflation data and money markets now see around a 57 per cent chance of a rate cut this month compared to 49 per cent before the inflation reading.
  • Britain will part ways with the EU at the end of this month, well over three years since Britons voted to leave, but will remain bound by all the bloc’s rules until the end of 2020 under an agreed transition phase aimed at smoothing its exit.
  • There is just a 20 per cent likelihood of a recession this year and a 25 per cent likelihood of one in the next two years, down from the 25 per cent and 30 per cent chances given in a December poll.