Number of analysts waiting for the Bank of England rate increase in August is declining

The increase in the rate of the Bank of England in August is expected by less than 55% of analysts who took part in the Bloomberg survey, while in May their share was 60%. The protocols of the June meeting of the Bank of England, which will take place this week, may lay the foundation for raising rates later in summer from 0.5% to 0.75%. Investors estimate the probability of a rate hike in August at about 50%. The agency notes that the expectations of policy tightening have declined due to weaker than expected data. Following the results of the first quarter, the GDP of the UK increased by 0.1% compared to the fourth quarter and by 1.2% in annual terms, noting the minimum growth rate since 2012. The forecast of the Bank of England for economic growth this year has been lowered from 1.8% to 1.4%.

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