Financial firms surveyed by the Bank of England ​last month did not expect ‌the central bank to raise interest rates this year, though they ​no longer expected rates to ​be cut, according to a ⁠poll released by the BoE.

The BoE’s quarterly Market ​Participants Survey, conducted from April 15-17, showed a median expectation for Bank Rate ​at the end of 2026 ​to be 3.75 per cent, versus an expectation three ‌months ⁠earlier for it to be cut to 3.25 per cent.

By contrast, interest rate futures are currently priced ​to show ​at ⁠least two quarter-point rate increases this year.

The poll ​also showed expectations for ​BoE ⁠quantitative tightening were unchanged at 50 billion pounds ($68.01 billion)for the next ⁠12-month ​period running from ​October 2026 to September 2027.