Yesterday’s attacks in London could speed a rate cut by the Bank of England, some analysts say.

“The attacks underscore that geopolitics remains a key global investment risk,” says Montreal-based BCA Research in a research note Friday.

“The immediate financial impact is as expected, with risky assets off sharply as investors flee for safe havens. The duration of the ‘flight to safety’ trade in part depends on how quickly markets learn [the identity of] the perpetrators of the London attacks, and how the authorities respond,” it says. “We expected the Bank of England to ease later this year, and the attacks may expedite a rate cut.”

However, the bank has denied speculation that it would an emergency meeting to consider an inter-meeting rate move, according to Bloomberg News.

CIBC World Markets plc reports in a research note that yesterday’s attacks in London are unlikely to have material medium-term implications on the economy, but in the near-term, “this risks weighing further on an already fragile business and consumer sentiments.

“All of this makes an August [Bank of England] rate cut all the more likely,” it says. “And depending on the degree of weakness seen in the data in the run-up to that meeting, it would not be total surprise to hear calls for a more aggressive 50 basis point rate action.”

“Other central banks have scope to reinforce any [Bank of England] actions. Based on the information we have at hand, we are confident that global capital markets, while tested, will prove resilient,” BCA adds.