Fitch: The Central Bank of the UK is expected to restart interest rate cuts in November, but it is unlikely to exceed 25BP.

According to Jessica Hynes, head of the Fitch Ratings economic team, the decision of the UK Central Bank to maintain the Benchmark Interest Rate at 5% is not surprising, given that Bank of England Governor Bailey stated after the interest rate cut in August that he does not want the rate to be lowered too far too quickly. However, in a report, she wrote that the Central Bank’s monetary policy statement suggests that further easing measures are most likely to be introduced in November. She added that the focus is on gradualism, implying that the likelihood of the Bank of England following the Fed’s rate cut of more than 25 basis points is slim.