Economists: Global supply shocks alter Bank of England policy outlook, rate cuts may be unlikely before 2026
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```htmlGolden Ten Data reported on April 29 that John Payne, Senior Economist at Dun & Bradstreet, a business information, data and analytics services institution, stated in a report that although the Bank of England was initially expected to cut interest rates in 2026, global supply shocks have changed the bank’s policy outlook. He forecasts that the Bank of England will maintain the bank rate at 3.75%, as global energy and other commodity prices have surged significantly. Payne said: "Even though the UK’s direct dependence on imports from the Gulf region is relatively low, it will still face inflation spillover effects, and by the third quarter the inflation rate could reach 3.5%. Keeping the interest rate at the current level will reflect the central bank’s cautious stance on inflation." He noted that recent evidence of resilience in the UK economy has reduced the necessity for an interest rate cut.```
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