Institution: The Bank of England may cut interest rates significantly by 50 basis points.

Steve Matthews, Chief Investment Officer for Canada Life Asset Management, pointed out that a 50 basis point rate cut will be a key topic at the upcoming Bank of England meeting, reflecting a shift in the economic background since the Bank held steady in March. Global trade disruptions and signs of economic slowdown - especially the recent decline in US GDP quarterly data - have put a larger rate cut in focus. With UK CPI inflation now largely on target, it is expected that MPC members Haldane and Mann will support a 50 basis point rate cut, opening the door for a possible larger rate cut in the event of a major surprise. However, Matthews predicts that this camp is likely to be outvoted, ultimately resulting in a 25 basis point rate cut decision, bringing the benchmark interest rate down to 4.25%.