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Signage at a branch of NatWest Bank pictured in central London, May 21, 2008. REUTERS/Luke MacGregor/File Photo
LONDON, Aug 3 (Reuters) – NatWest Markets cut its forecast for the peak in Bank of England interest rates to 5.5% after the BoE’s announcement of a latest rate hike and new guidance on Thursday, down from 6% it previously forecast.
“We are revising our Bank Rate forecast and now look for just one more 25bp hike to 5.5% in September,” NatWest Markets’ chief UK economist, Ross Walker, wrote in a note to clients.
“The apparent rowing-back in the MPC’s policy-tightening guidance leaves us comfortable maintaining our negative bias on sterling,” NatWest added.
Reporting by David Milliken
Editing by William Schomberg
Our Standards: The Thomson Reuters Trust Principles.
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