Barclays expects BoE to deliver rate cut in May 2024

(Reuters) – Barclays said on Friday it expects the Bank of England (BoE) to start its interest-rate cut of 25 basis points in May, compared to its previous expectation of August 2024.

Britain’s economy might be in a recession, according to data that showed it shrank between July and September, shortly after finance minister Jeremy Hunt took the rare step of suggesting the BoE might cut interest rates to boost growth.

(Reporting by Subhadeep Chakravarty)