Bank of England rate cut seen as sure bet

The Bank of England is almost certain to cut benchmark borrowing costs when it sets policy next week, but a slim majority of economists in a Reuters poll said it would hold off for now on restarting its asset purchase programme.

The shock outcome to the Brexit poll roiled financial markets and led many economists and traders to think the bank would cut rates at its meeting this month — which it failed to do.

Minutes from that meeting did, however, show most of the Monetary Policy Committee members thought looser monetary policy was likely to be needed at the August meeting.