Bank of America says probability of Bank of England cutting interest rate in March increases to 83%

On February 27th, Bank of America economists stated that the decline in public inflation expectations in the UK may prompt the Bank of England to cut interest rates in March. According to a joint survey by YouGov and Citigroup, inflation expectations have decreased in February, and Bank of America believes that a softer labor market, lower inflation, and slower wage growth may drive the Bank of England to cut interest rates. LSEG data shows that the market expects an 83% probability of the Bank of England cutting interest rates in March.