- Analytics
- News and Tools
- Market News
- The BoE does not really provide much of an impetus to support GBP – TDS
The BoE does not really provide much of an impetus to support GBP – TDS
As expected, the Bank of England raised Bank Rate by 50 bps to 3.50%. The BoE did not provide much for GBP to chew on, economists at TD Securities report.
Not much of a surprise from the BoE
“As broadly expected, the BoE hiked 50 bps to 3.50% and signalled that more hikes are likely. The vote was biased to the downside, with the two most dovish MPC members calling for no hike while hawk Mann voted for 75 bps.”
“Less forward guidance over policy hikes implies less marginal support for GBP.”
“On balance, we think GBP has run most of the course but prefer to see weakness emerge on the crosses (like vs EUR). There is some risk that this bleeds into the USD given holidays approaching as well, but we think the hurdle is high to see major USD weakness emerge.”
© 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
