The BoE is anticipated to keep interest rates steady at 3.75% in March, according to a Reuters survey
Bank of England Expected to Maintain Interest Rates in March
According to a Reuters survey published on March 12, most economists anticipate that the Bank of England (BoE) will leave interest rates unchanged at its upcoming March meeting.
The poll reveals that 85% of economists predict the bank rate will be held steady at 3.75% on March 19, a significant increase from the 35% who held this view in February. The consensus forecast suggests the rate could be reduced to 3.25% by the end of September, with expectations that it will remain at this level through at least the end of 2026.
BoE's Inflation Outlook
The most recent Monetary Policy Report from the BoE, released on February 5, indicated that policymakers expect CPI inflation to ease to 2.1% by the second quarter of 2026. However, these projections were made prior to the onset of the Iran conflict. The BoE is scheduled to convene again on March 18, with its policy decision set for March 19. The next Monetary Policy Report will be published at the meeting on April 30.
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