Morgan Stanley Strategists Predict Bank of England to Hold Rates Steady

Morgan Stanley strategists Fabio Bassanin and Luca Salford have indicated that members of the Bank of England's Monetary Policy Committee are likely to maintain the interest rate at 3.75% during the policy meeting on April 30. According to Jin10, the strategists noted that most officials at the Bank of England appear inclined to wait for more evidence before addressing the latest inflationary pressures. Data from LSEG shows that the market currently estimates a 62% probability of a 25 basis point rate hike by the Bank of England in April, down from an 87% probability priced in last week.