On Thursday, the Bank of England (BoE) will decide its key rate. But in the opinion of the Commerbznkak economists, sterling will remain under pressure.
The BoE struggles to control inflation
“The forex market reacted sensitively to the retail sales release on Friday morning and sterling came under downward pressure. This is likely to reflect the markets concern that the Bank of England will not be able to control inflation as quickly. That concern is likely to continue ahead of the BoE meeting, putting pressure on the pound.”
“It remains to be seen whether the BoE will manage to support sterling with the help of a brave rate hike and hawkish comments.. I have to admit that right now I find it hard to believe.”
Source: Fx Street
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
