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2025-10-31 00:37:32
[Barclays: Key UK Data Misses Bank of England Expectations, Rate Cut Possible in November] Barclays' Jack Meaning stated in a report that key UK economic data has fallen short of the Bank of England's forecasts, increasing the likelihood of a rate cut in the November 6th interest rate decision. September's year-on-year inflation rate was 3.8%, lower than the Bank of England's 4% forecast. "Based on our leading indicator of regular private sector wage growth, the third quarter figure is expected to be about half a percentage point lower than the Bank of England's Monetary Policy Report (MPR) forecast," he said. Meaning indicated that Bank of England members are likely to vote 5-4 in favor of a 25 basis point rate cut next week.
