Analyst: Bank of England statement increases the possibility of a rate cut in August

Jinshi data, June 20th news, the Bank of England held interest rates unchanged for the seventh consecutive meeting, which is not surprising. Before announcing this decision, the currency market had fully digested it. Ding Gra and Ramsden once again supported an immediate 25 basis point cut, and the 7:2 vote result remained unchanged, which was also not surprising, as policymakers had little reason to significantly change their stance in the past six weeks since the May meeting. The accompanying policy statement largely replicated May’s. However, it is worth noting that some committee members thought that the decision not to cut interest rates was a “subtle balance,” increasing the possibility of a rate cut at the next meeting.