Strategist: Bank of England may cut interest rates again before the end of the year after Thursday's decision

Jeremy Batstone-Carr, strategist at Raymond James Investment Services, said in a note that the Bank of England is likely to cut interest rates again before the end of the year after making its interest rate decision on Thursday. The market sees a 96% chance of a rate cut this week, according to LSEG data. The UK is expected to raise taxes in the autumn budget, which could limit the ability of households and businesses to spend. The Bank of England may want to choose a monetary policy to ease the pressure on households and businesses, although that won't be until later this year.