Barclays: Predicts the Bank of England will maintain interest rates unchanged with an 8:1 voting result

Barclays analysis predicts that the Bank of England will support maintaining interest rates unchanged with an 8 to 1 vote, and reduce its Asset Purchase Facility (APF) assets by £100 billion. "We believe there is a certain probability that Ramsden and/or Taylor will vote in favor of cutting interest rates along with Dingley, so our expected voting ratio of 1-8 has a tendency towards the risk of 3-6." The tone of the meeting statement is still expected to remain cautious while acknowledging further progress towards sustainable inflation targets. Existing guidelines on maintaining restrictive policies may remain unchanged. Interest rates are expected to be cut by 25 basis points in November, December and next February, May and August respectively, reaching 3.75% by August 2025.