Goldman Sachs: Still expects the Bank of England to cut interest rates for the first time in August

On June 21st, Jinshi Data reported that Goldman Sachs stated that the Bank of England’s Monetary Policy Committee voted 7-2 to maintain the interest rate at 5.25%, with Ding Gra and Ramsden once again opposing a 25 basis point rate cut. The policy guidance indicates that the Committee will consider existing evidence as part of the August economic forecast and continue to review the timing of maintaining the interest rate at its current level. Goldman Sachs still expects the Bank of England to cut interest rates for the first time in August and then cut rates every quarter until the third quarter of 2026 when the interest rate reaches 3%.