HSBC: The market may underestimate the speed and scale of the interest rate cuts by the Central Bank of the United Kingdom.

FX168 News Nov 14, HSBC UK Intrerest Rate strategist Daniela Russell said in a report that the market may be underestimating the scale and speed of the UK Central Bank's rate cuts. Data from Refinitiv shows that the market expects the UK Central Bank to cut rates by 56 basis points by the end of 2025. HSBC economists, however, expect the UK Central Bank to cut rates six times in 2025, each time by 25 basis points. "However, due to the uncertain outlook and considering that the UK Central Bank is taking a gradual meeting approach, it may take some time to truly stand firm," Russell said.