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Stock impact report

Bank of England to cut rates in May, Morgan Stanley says, retaining contrarian call [CNBC]

Morgan Stanley (MS) 
Last morgan stanley earnings: 4/16 07:15 am Check Earnings Report
US:NYSE Investor Relations: morganstanley.com/about-us-ir
Company Research Source: CNBC
“We still entertain a May rate cut,” chief economist Jens Eisenschmidt told CNBC's “Street Signs” on Wednesday, reiterating the bank's commitment to an earlier call. The Wall Street bank's contrarian view is now some way off consensus, which currently prices in an initial BOE rate cut in September, according to LSEG data. It comes as the U.K. gears up for a general election due some time before Jan. 28, 2025. Rate cut expectations have thinned over recent weeks, as sticky U.S. inflation and increasingly hawkish Federal Reserve comments have cast doubt on the global disinflation picture. Even the European Central Bank, which last week signaled an upcoming rate trim, has said that rising Middle East tensions could threaten those plans. Bank of England Governor Andrew Bailey on Wednesday said that the outlook in Europe differed from that in the U.S. and voiced optimism that U.K. inflation was falling, describing the latest data as “pretty much on track” with the institution's fo Show less Read more
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