BoE expected to hold Bank Rate again on Thursday
Analysts say MPC is awaiting clearer inflation signs
In February, two votes for a rate hike, one for a cut
Markets and analysts mostly see first cut in Q3
No press conference due next week

LONDON, March 15 Reuters The Bank of England will probably keep investors guessing next week about when it is likely to start cutting interest rates as it waits for clearer signs that inflation pressures still in the economy really are being quashed.

With other central banks moving towards cutting borrowing costs for the first time since the COVID pandemic, and inflation set to fall to its 2 target soon, the BoE has put its high rates under review.

Governor Andrew Bailey maintained the tentatively optimistic tone this week when he said inflation expectations seemed to be under control and worries about a pricewage spiral were easing.

But Bailey showed no urgency about cutting Bank Rate from a 16year high of 5.25, saying problems with labour market data left him unsure about the jobless rate. He also cited geopolitical risks.

This is why it39;s so important to consider this question about how restrictive do we have to be, and for how long, Bailey said on Tuesday.

He and five other ratesetters voted to keep Bank Rate on hold in February, while two sought a further increase and one voted for a cut.

Analysts predict another 621 split next Thursday, resulting in a fifth consecutive hold decision, although inflation data on…