Pound could suffer further over the short term if market’s conviction on a June rate cut grows

Economists at MUFG Bank analyze Pound’s outlook. BoE shifts a little more toward a first rate cut BoE left policy rate on hold for fifth consecutive meeting at 5.25%. The overall message from the statement suggests as before – that returning inflation to target is proceeding but the point of being in a position to ease the monetary stance has not arrived.

The vote did highlight progress with an 8-1 vote as both Jonathan Haskel and Catherine Mann dropped their votes to hike. That alone justifies some increased probability of an earlier than we expect rate cut in June although whether the BoE ultimately moves in June or August remains a close call. We maintain our view of 100 bps of cuts this year.

پاکستان تازہ ترین خبریں, پاکستان عنوانات

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Pound Sterling soars amid upbeat market mood, BoE decision in focusThe Pound Sterling (GBP) exhibits strength in Thursday’s London session ahead of the Bank of England’s interest rate decision, prompted by investors’ higher risk appetite.
ذریعہ: FXStreetNews - 🏆 14. / 72 مزید پڑھ »

Pound Sterling weakens on dismal market sentiment, higher prospects of BoE rate cutThe Pound Sterling (GBP) remains vulnerable against the US Dollar in Friday’s London session as the market sentiment is quite bearish.
ذریعہ: FXStreetNews - 🏆 14. / 72 مزید پڑھ »