Markets bet on UK interest rate cuts in 2024 amid recession risk
by Richard Partington Economics correspondent from Economics | The Guardian 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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