August Rate Cut is No Sure Thing

August Rate Cut is No Sure Thing - at www.moneyweek.com - the best of the international financial media

The outlook for the UK economy is fluid - terrorist events, major data revisions, the potential fallout from China's currency revaluation/currency regime change and even London's Olympic bid success all add a significant degree of uncertainty to the monetary policy outlook. At the close of an important week of UK data, the Bank of England's upcoming interest rate decision remains a finely balanced one. Whether they chose to keep rates on hold or cut rates at their 3rd/4th August meeting is very difficult to anticipate. On balance we still think the evidence favours an on hold' decision, but a rate cut would not be a surprise to us.

As close as it gets

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