Bank to cut by 100 basis points?
A percentage-point cut would be the steepest since January 1993 and would leave rates at 3.5%. The Monetary Policy Committee (MPC), formed in 1997, has never cut by more than 50 basis points.
George Buckley, the chief UK economist at Deutsche Bank, said that a fall in Purchasing Managers' Index (PMI) data, an indicator of future demand for goods, to "levels not seen
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