November 8, 2024 – Written by David Woodsmith
STORY LINK Bank of England: Pound Sterling Higher vs Euro, Dollar as UK Interest Rates Cut
The BoE curt rates by 25bps. This was expected and the pound actually rose slightly against the euro.
The budget seems to have tempered the bank’s plans to shift more dovish and get “more aggressive” with rate cuts as Governor Bailey suggested they might last month.
Markets only expect 3 more cuts. This is bullish for the pound but might be too hawkish…
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