Taylor Swift London Eras Tour unlikely to move the needle on the Bank of England's rate policy, analyst says

LONDON — Taylor Swift's record-breaking Eras Tour may have led to a surge in restaurant and hotel bookings in the U.K. — but it's unlikely to have a significant impact on the Bank of England's rate cutting policy, one analyst told CNBC.

The pop artist returned to Britain this week for five additional concerts to add to her total of eight shows at Wembley Stadium this summer — overtaking the record for any solo singer to perform at the stadium.

Barclays predicted in May that 1.2 million ticket-holders would spend an average of £848 ($1,105) each, meaning the tour could provide a £997 million boost to the U.K. economy.

The Eras Tour concert creates a "really significant economic multiplier effect," said James Rossiter, head of global macro strategy at TD Securities.

"Where we've seen a bit more of a durable impact this time around, is on the restaurant bookings," Rossiter told "Squawk Box Europe" Wednesday.

"So we look at [online restaurant-reservation service] OpenTable data, for example, and we did see a spike in June around her concerts here, and we've actually seen a big surge again over the weekend."

However, the concerts had less of an impact on airfare and hotels, according to Rossiter who explained that a big city like London will often see an increase in tourism in the summer.

TD Securities currently has a base case that the Bank of England will implement a quarterly pace of 25 basis point cuts, Rossiter said. Earlier this month, the Bank delivered its first interest rate cut in more than four years, taking the key rate to 5%.

TD Securities previously said that the Eras Tour could be enough to defer a possible September interest rate cut — such is the potential impact it could have on the country's inflation data.

Rossiter