Analysts at UOB explained that the Bank of England Deputy Governor Jon Cunliffe again raised doubts whether he will support a BOE rate hike next week.
"He described the exact timing of BOE rate rise “is a more open question” in an interview published by a Welsh newspaper on Monday (23 Oct). He said that he does not want to anticipate Nov rate decision, but “for me the economy has clearly slowed this year”. He also noted that if the BOE forecast of higher domestic inflation comes to pass, then rates will need to go up and that rates will need to rise over next three years."
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