The market is almost evenly split on whether the Bank of England will cut rates this week. The MPC holds its policy-setting meeting on November 6 and 7. Eighteen out of 32 economists polled by Reuters last week said the bank would leave Britain's official rate at 4.0 percent, but 14 forecast rates would fall.
In a Reuters report, Julian Jessop, chief European economist at Standard Chartered in London, said: "The UK domestically doesn't need a rate cut but they are increasingly concerned about the global backdrop so they might cut."
We shall have to wait until Thursday…
