- Analytics
- News and Tools
- Market News
- GBP to remain stable until the new Prime Minister is announced – ANZ
GBP to remain stable until the new Prime Minister is announced – ANZ
UK financial markets have responded well to the resignation of Liz Truss as Prime Minister. Economists at ANZ Bank expect the pound to remain stable until the announcement of the new PM.
All eyes on Bank of England
“We expect the GBP to remain stable until the new Prime Minister is announced, after which the focus will be on the fiscal statement on 31 October, and the Bank of England meeting on 3 November.”
“Up to three candidates can be nominated in the party’s leadership race, with only two going to membership. It is likely that the new leader will be announced by the end of next week. However, if only one candidate is nominated, that may result in an earlier announcement.”
“The BoE next meets on 3 November. After underwhelming the markets in previous months, we expect the BoE will have to raise rates by a minimum of 75 bps and possibly 100 bps. We think a 75 bps rise will also be warranted in December. Failure to deliver a comprehensive and credible rate rise supported by appropriate hawkish forward guidance could see GBP come under renewed selling pressure.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
