Financial markets are almost certain that the Bank of England will cut interest rates on Thursday, in what is promising to be a busy week for UK-focused investors with labour market and inflation data also due.
Swaps markets are pricing in a roughly 90 per cent probability of a quarter-point reduction to 3.75 per cent, which would be the sixth such move since the central bank began its rate-cutting cycle in summer last year.
Measures introduced by chancellor Rachel Reeves at the Budget on November 26 are likely to generate a small near-term growth boost, but they are also expected to lower inflation next year, supporting the case for a rate cut in December, say analysts.
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