Nomura now expects the BOE to deliver final rate cut this cycle in April next year

November 7, 2025
-FXnews

Their note going into the meeting decision was that if there was a rate cut in November, then they see the BOE cutting rates just one more time in February next year.

But now, it seems that they pushing back that final rate cut with a shift in the timeline for November to December as well for the next one. The terminal rate forecast by Nomura is still maintained at 3.50%.

For the time being at least, the analyst forecasts for the BOE terminal rate are seemingly all over the place. So, it’s safe to say that the final destination is still very much up in the air even though there will surely be some more rate cuts down the road

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