• The Bank of England will start cutting interest rates in the third quarter, a Reuters poll of economists showed, with a slim majority expecting the first reduction in August.
• That is later than forecast in a January poll, when a small majority of economists saw the rate cut cycle starting next quarter, although the latest result also was a very close call.
• Inflation remained steady at 4.0% in January, unchanged from December but much lower than the 41-year high of 11.1% in October 2022.
• Median forecasts in the Feb. 15-20 poll of 66 economists showed Bank Rate will stay at 5.25% until a fall to 4.75% in the third quarter, then ending the year at 4.50%.

https://www.reuters.com/world/uk/poll-bank-england-start-cutting-rates-q3-most-likely-august-2024-02-20/