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Nomura penciled in a rate cut for this week but that didn’t materialise of course as seen yesterday here. Their note going into the meeting decision was that if there was a rate cut in November, then they see the BOE cutting rates just one more time in February next year.
But now, it seems that they pushing back that final rate cut with a shift in the timeline for November to December as well for the next one. The terminal rate forecast by Nomura is still maintained at 3.50%.
For the time being at least, the analyst forecasts for the BOE terminal rate are seemingly all over the place. So, it’s safe to say that the final destination is still very much up in the air even though there will surely be some more rate cuts down the road. Here’s a quick snippet:
This article was written by Justin Low at investinglive.com.
China’s trade momentum faltered in October, with exports contracting -1.1% yoy, far below expectations for a 3.0% rise and the weakest reading since February. The figures suggest that the earlier tariff frontloading surge has fully dissipated, exposing underlying fragility in external demand. In particular, shipments to the U.S. tumbled -25.2% yoy, extending a seven-month run […]
The post China exports fall -1.1% in October as tariff frontloading fades appeared first on Action Forex.
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