Recent comments from a number of MPC members have hinted that a cut in Bank Rate might not be too far away and possibly rather sooner than financial markets currently expect. However, apart from the leading dove, Swati Dhingra, most policymakers would still seem to favour waiting until there has been further progress on reducing inflation. Consequently, there is a strong market consensus in favour of the benchmark rate being held at 5.25 percent on Thursday. There is also a good chance that March’s 8-1 vote for no change will be repeated. Once again, there is unlikely to be anything new on the QT programme. Since ... (full story)