Bank of America says the probability of a Bank of England rate cut in March has risen to 83%

Golden Ten Data reported on February 27 that Bank of America economists stated that the decline in UK public inflation expectations may prompt the Bank of England to cut interest rates in March. According to a joint survey by YouGov and Citigroup, inflation expectations decreased in February. Bank of America believes that a softening labor market, falling inflation, and slowing wage growth could drive the Bank of England to lower rates. LSEG data shows that the market expects an 83% probability of a rate cut by the Bank of England in March.