Thanks for joining me. The Bank of England could begin cutting interest rates before the US and the eurozone in a sharp reversal of previous expectations, according to traders.
Money markets indicate that there is a 20pc chance that policymakers in Britain could announce a first interest rate cut since the pandemic in May.
Meanwhile, the chances of such a move by the US Federal Reserve and the European Central Bank (ECB) are put at around 10pc.
It comes after Govenor Andrew Bailey said last week that cuts to interest rates, which stand at 16-year highs of 5.25pc, are “on the way”.
Citigroup strategist Jamie Searle said Mr Bailey’s comments “perhaps makes May seem like a reasonable time to cut”.
At the start of the year, Britain had been expected to be slower to cut rates than the US and Europe amid persistent inflation.
5 things to start your day
1) Red tape risks ‘finishing off’ defined benefit pension schemes, MPs warn | Excessive regulation blamed for threatening last private sector final salary schemes
