BoE Likely Holds 3.75% Rate, BofA Predicts

Bank of America expects the Bank of England to keep the Bank Rate at 3.75% at its upcoming meeting.
A 7‑2 vote is projected for holding rates, with Pill and Greene favoring a hike and an 8‑1 outcome possible.
Recent data show March unemployment at 4.9% (down from 5.2%), inflation at 3.3%, services inflation 4.5%, and rising household inflation expectations to 5.4%.
BofA forecasts two rate hikes in June‑July, three quarterly cuts from Q2 2027 to 3.5%, with ceasefire raising risk of fewer hikes.