Economics
Carney to Ignore Inflation Jump as November Rate Cut Seen
- Pound drop no barrier to BOE November rate cut, economists say
- Benchmark will be cut to 0.1% according to 26 of 36 surveyed
Mark Carney.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Economists are taking Mark Carney at his word.
Days after the Bank of England governor said he’ll tolerate faster price gains in his efforts to support the economy, more than 70 percent of economists in Bloomberg’s monthly survey said the Monetary Policy Committee will cut the benchmark rate to a record-low 0.1 percent on Nov. 3. The panel, which will keep its quantitative-easing program running as planned, will present new economic projections the same day.