According to Jinshi Data on August 23, UBS Global Wealth Management said that the pound may rise further in the coming weeks because the Bank of England may be the only major European central bank that will not cut interest rates in September. UBS analysts said in the report that the Bank of England is likely to keep interest rates unchanged in September and may leave the next rate cut until November. This is in stark contrast to the European Central Bank and the Federal Reserve, both of which UBS expects to cut interest rates in September.