Investors were almost fully pricing in five quarter-point interest rate cuts by the Bank of England during 2024, a day after the U.S. Federal Reserve signalled it was moving towards cutting borrowing costs. The BoE, which is expected to announce it has kept borrowing costs on hold for a third meeting in a row at 1200 GMT on Thursday, has stressed it is not close to thinking about cuts. But signs that other central banks are moving in that direction and data showing the British economy is flat-lining have added to bets in financial markets on the BoE lowering Bank Rate from its 15-year high of 5.25%.
Read full NASCAR article on Yahoo Sports
Read all NASCAR articles