The minutes from today's vote make it pretty clear that Governor Bailey has become the "swing voter" between the hawk and dove camps within the MPC. This suggests that he'll likely be the decider of whether the next rate cut comes in December or February

We expect that the Bank of England MPC will keep interest rates unchanged tomorrow. Going forward, the MPC faces a delicate balance between signs of a cooling labour market and the risk of price pressures remaining stubbornly high

We expect economic growth to be modest through the rest of the year. Our surveys suggest that underlying activity remains sluggish due to persistently weak demand and gloomy sentiment

Learn more about our view of the outlook 👇
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Check out my full response to the data
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