What Does the Bank of England’s Delayed Rate Cut Imply for US?

Market Overview Analysis by James Picerno covering: . Read James Picerno's latest article on Investing.com

If the Bank of England’s decision on Thursday to leave interest rates unchanged is a guide, the outlook for the start date for a US rate cut may be further down the line than generally assumed.

Is this time different? No one knows, but the BoE’s decision surely offers another reason to stay cautious on expecting US rate cuts will arrive sooner rather than later. Indeed, despite a clear sign that UK inflation has returned to target, the central bank remains reluctant to embrace a dovish pivot.

CapitalSpectator.com’s ensemble forecasting model for core CPI suggests that sticky inflation risk will continue to fade, but slowly, and so the case for rate cuts based on this forecast still looks muddled.

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