Mitsubishi UFJ: The pace of interest rate cuts by the Central Bank of England may accelerate, and the pound may come under pressure to fall

On September 12, the Mitsubishi UFJ Financial Group analyst Lee Hardman said in a report that as the UK economy slows, the Central Bank of England may accelerate the rate cut cycle, which may lead to a decline in the pound. Hardman said that after the unexpectedly strong rise in the first half of this year, the UK economy lost its upward momentum in the second half of this year. Data released on Wednesday showed that the UK economy achieved zero growth for the second consecutive month in July. He said that the possibility of consecutive interest rate cuts by the Central Bank of England in November and December is increasing, which may cause the recent strong pound to reverse to a certain extent.