However, the GDP figures could fuel speculation about a BoE rate cut. BoE Deputy Governor Sarah Breeden recently changed her stance on monetary policy, stating,
“The recent evidence further supports the case to withdraw policy restrictiveness and I expect to continue to remove restrictiveness gradually over time.”
This evolving perspective signals potential shifts in the BoE’s approach, adding to market uncertainty.
GBP/USD Reaction to November’s GDP Report
Before the UK GDP Report, the GBP/USD climbed to a high of $1.22476 before falling to a low of $1.22064.
However, in response to the Report, the…
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