Morning Bid: Bank of England to test cut assumptions

News Snapshot:

A look at the day ahead in European and global markets from Tom Westbrook The Bank of England is not expected to move interest rates today. But markets price an almost 50-50 chance of a cut in June, so the focus is on whether policymakers deliver any groundwork for loosening policy in six weeks' time. Academic Swati Dhingra already voted for a cut in March and some figure on Deputy Governor Dave Ramsden joining her this month. Governor Andrew Bailey has sounded comfortable about cutting rates this year, without putting a timetable on it. A cut is fully priced for...