Goldman Sachs now sees sequential rate cuts from the BOE starting from November

This is different from what majority of economists are expecting, that to be just one more rate cut this year. Goldman Sachs now sees back-to-back moves for the BOE in November and then December. The firm had previously forecast one more rate cut in the final quarter for this year.

I’m waiting to see if there are more details on their outlook further out. If there is, I’ll update in the post later.

But for added context, traders are pricing in ~49 bps worth of rate cuts for the remainder of the year currently. But for the meeting next week, the odds are showing ~78% of there being no change.

This article was written by Justin Low at www.forexlive.com.