UBS asks:
What will be the Bank of England's Bank Rate at close of business on 1 August 2024?
Closed Aug 01, 2024 07:01AM UTC
The Bank of England, the UK's central bank, has signaled that interest rate cuts may be coming (Bank of England - Explainer, BBC, Guardian, CNBC). The Monetary Policy Committee (MPC) sets the Bank Rate, which, as of the launch of this question, has been at 5.25% since August 2023 (Bank of England - Bank Rate, Bank of England - Monetary Policy Summary, August 2023). The MPC is scheduled to announce rate decisions on 9 May 2024, 20 June 2024, and 1 August 2024 (Bank of England - Monetary Policy Committee Calendar).
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The question closed "At least 5.00%, but less than 5.25%" with a closing date of 1 August 2024.
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| Possible Answer | Correct? | Final Crowd Forecast |
|---|---|---|
| Less than 4.25% | 0% | |
| At least 4.25%, but less than 4.50% | 0% | |
| At least 4.50%, but less than 4.75% | 0% | |
| At least 4.75%, but less than 5.00% | 4% | |
| At least 5.00%, but less than 5.25% | 54% | |
| At least 5.25%, but less than 5.50% | 42% | |
| 5.50% or more | 0% |
Crowd Forecast Profile
| Participation Level | |
|---|---|
| Number of Forecasters | 90 |
| Average for questions in their first 6 months: 168 | |
| Number of Forecasts | 362 |
| Average for questions in their first 6 months: 438 | |
| Accuracy | |
|---|---|
| Participants in this question vs. all forecasters | average |
