ING: The Bank of England has not yet met the conditions for a rate cut and will be more cautious than the Fed
The Odaily Planet Daily Report states that the Bank of England will announce its policy decision tonight, and people generally expect the central bank to keep interest rates unchanged. Prior to this, the GBP/USD exchange rate has risen slightly. In a report, ING analyst Francesco Pesole pointed out that inflation has not eased enough to require further rate cuts. He said that people believe the Bank of England is more cautious than the Federal Reserve, which has helped strengthen the pound. "This is not expected to change after today's meeting," Pesole said, adding that GBP/USD may rise above 1.33 before the end of the week, while EUR/GBP may fall below 0.84.
