The Bank of England is expected to follow in the footsteps of the Federal Reserve and slow down interest rate cuts, but may cut even more in the future

According to BlockBeats, on March 20th, the market generally expects the Bank of England to keep interest rates unchanged this week, consistent with the Federal Reserve's action on Wednesday. However, later this year, it is still possible that it will cut interest rates more significantly than the Federal Reserve. Like the Federal Reserve, the Bank of England expects inflation to continue to slow down in the coming months, but it wants to ensure that the fall in inflation is on track and avoid reducing borrowing costs too quickly. But the UK economy has always been much weaker than the US. After remaining flat in the third quarter, the UK economy only grew by 0.1% in the fourth quarter, barely avoiding a recession. Although concerns about the Russia-Ukraine conflict and the impact of Trump's tariff on global economic growth affect the UK, the UK economy also has its own problems. The government led by Prime Minister Stamer has been working hard to restore consumer and business confidence in the future. As for the Bank of England, it has stated that it is taking a "gradual and cautious approach" to lower interest rates, however, as the economy stagnates, the trend of interest rates is clear. Nomura economists led by George Buckley stated, "We expect the central bank to keep interest rates unchanged in March and cut rates again in May," and then cut rates at "every meeting from here until February 2026 (including February 2026), with a terminal interest rate of 3.5%