MPC minutes signal further rate cuts
MARKET NEWS
LONDON -- Minutes of the Bank of England's latest monetary policy committee (MPC) meeting signal further cuts in UK interest rates, analysts told FX Week.
"Before the minutes we were looking for the Bank to wait until July," said Jeremy Hawkins, chief economist at Bank of America in London. "But they [the minutes] were very dovish and I wouldn't rule out a cut next month."
A senior trader at a major UK bank in London told FX Week: "It's just a matter of time until the bank cuts again. That should
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