BoE Holds Rate at 3.75%, Bailey Dampens Cut Hopes; Sterling Under Pressure
Bank of England left rates unchanged at 3.75% in a 6-3 vote, with Governor Bailey pushing back against near-term easing expectations, weighing on the pound according to BBH.
GBPUSD
The Bank of England kept its benchmark rate at 3.75% following a 6-3 vote split. Governor Andrew Bailey pushed back against market expectations of an imminent rate cut, signaling a cautious approach.
According to Brown Brothers Harriman analyst Elias Haddad, the BoE’s softer stance is likely to weigh on the British pound. No further policy details were provided in the snippet.
Source: FXStreet Forex News