Commerzbank’s Michael Pfister notes that the Bank of England kept rates unchanged and avoided signalling future hikes, despite a closer-than-expected 6–3 vote and Governor Bailey’s insistence that the BoE is not edging toward tightening. Pfister reiterates that the BoE is likely to delay hikes as long as possible and could quickly revert to cuts if the Middle East conflict ends, leaving the Pound with little policy support.
BoE stance offers scant pound backing
“As expected, the Bank of England left interest rates unchanged yesterday. It also avoided giving any strong indications of possible rate rises. Although the vote was closer than…
Read the full article at FXSTREET.COM
