Reuters Poll: BoE Expected to Cut Interest Rates by 25 Basis Points in March

A recent Reuters poll of economists indicates a growing consensus that the Bank of England (BoE) will reduce its benchmark interest rate at the upcoming March meeting. The survey suggests a 25-basis-point cut, which would bring the key interest rate down to 3.50%. Conducted between February 10 and February 16, the poll highlights a significant shift toward monetary easing in the UK. This anticipated move is likely driven by cooling inflationary pressures and the need to provide further support for economic growth. Expectations of lower yields typically exert downward pressure on the British Pound (GBP) across major currency pairs. Conversely, the prospect of reduced borrowing costs could provide a positive catalyst for UK equities, including the FTSE 100 index.