Simon Ward: 75bp cut on the cards in November

New Star's Simon Ward has forecast a three-quarter-point rate cut at the next MPC meeting in early No...

New Star's Simon Ward has forecast a three-quarter-point rate cut at the next MPC meeting in early November. He said tomorrow’s GDP results will factor in, but the Bank of England committee has now switched its focus to averting the “tail risk” of a severe recession. The economist said assuming a GDP decline of 0.2%, his MPC-ometer expects a 75 basis point cut and ‘no change’ in December and January after that.