- Analytics
- News and Tools
- Market News
- The BoE remains cautious, GBP likely to remain supported for the time being – Commerbank
The BoE remains cautious, GBP likely to remain supported for the time being – Commerbank
The Bank of England (BoE) left interest rates unchanged on Thursday. GBP/USD hit its highest level since August following the Monetary Policy Statement. Economists at Commerzbank analyze the pair’s outlook.
The BoE has no plans to shift its stance for the time being
After the meeting, BoE Governor Andrew Bailey said that it was not yet possible to say with complete certainty that interest rates had peaked, although he hoped they had. And it was too early to talk about rate cuts, as further progress on inflation is needed. In my view, this was a pretty clear signal that the BoE has no plans to shift its stance for the time being.
The question over the next few months is likely to be how long the BoE can keep this up. If inflation falls more sharply than expected in the coming months, rate cuts are likely to be more on the BoE's agenda. For now, however, the BoE remains cautious and the Pound is likely to remain supported for the time being.
© 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
