By Joel Jose

(Reuters) -Major brokerages including Goldman Sachs, Citigroup and J.P.Morgan expect no more interest rate cuts by the Bank of England this year after the British central bank kept its key rate on hold.

The BoE’s widely expected pause on Thursday followed its quarter-point reduction in August, as it navigates sticky inflation and a murky growth and employment outlook.

This came a day after data showed British inflation in August held at 3.8%, the highest among major advanced economies.

While Goldman Sachs and J.P.Morgan currently project the next easing cycle to commence in February 2026, followed by quarterly rate reductions, strategists at both brokerages acknowledged that a December cut could be warranted should near-term economic data deteriorate notably.

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