Article 6H4JH Markets bet on UK interest rate cuts in 2024 amid recession risk

Markets bet on UK interest rate cuts in 2024 amid recession risk

by
Richard Partington Economics correspondent
from on (#6H4JH)

Bank of England expected to keep rates at 5.25% on Thursday but abandon current strategy next year

Financial markets are betting the Bank of England will be forced to launch a deep round of interest rate cuts in 2024 amid the growing risk of a recession.

Threadneedle Street is widely expected to leave borrowing costs unchanged on Thursday after warning that interest rates would need to remain high for a prolonged period to tackle stubbornly high inflation.

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