November 8, 2024 – Written by Frank Davies
STORY LINK Pound Sterling Gains on Inflation Warnings and Slow Pace of Cuts
The Bank of England (BOE) Monetary Policy Committee (MPC) cut interest rates by 25 basis points to 4.75% which was in line with strong consensus forecasts.
There was an 8-1 decision for the cut with Mann voting to hold rates at 5.00%.
The Pound had drifted lower into the announcement and there were significant gains after the decision with a covering of short positions and a relatively hawkish statement…
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