The pound is still lingering below the 1.18 level against the euro this morning and has, so far, failed to break through.
Sterling is being supported by the prospect that the Bank of England may raise interest rates soon. However, whilst some expect the BoE to be the first bank to hike rates, others argue that it could be a mistake to raise them this early.
This morning, the Bank of England will release the findings of its latest Credit Conditions Survey. This is a quarterly survey of banks and building societies aimed at improving the Bank’s understanding of trends and developments in credit conditions.
Bank of England official, Silvana Tenreyo, will also speak later this morning.
