Reuters poll sees Bank of England waiting for cut rates

The Bank of England will probably wait until August before working to appease the effects of the British decision to leave the European Union and the pound will suffer again in a decisive manner.

They are the results of two surveys conducted by Reuters after the central bank governor Mark Carney spoke to a real risk of a slowdown for the UK economy as a result of the earthquake and Brexit urged banks to continue giving credit .

According to the survey, the pound, which has now hit a new low for 31 years, will weaken by another 3%, over 12% already lost  since the referendum of 23 June.

For almost two-thirds of the 52 economists surveyed for a second consultation, the BoE will leave the benchmark rate unchanged at 0.5% in the meeting next week, while 17 ones expect a cut to 0.25% and two involve a lowering to zero.

The average of the estimates converge to a single 0.25% cut by the July-September quarter, a level that should be maintained until the end of next year.