After falling against the euro earlier this week, the pound has steadied following an update from the European Central Bank. Sterling has weakened further against the dollar.
GDP data released this morning revealed that the UK economy rebounded strongly in January, by 0.8%, recovering from the Omicron-related disruption that we saw in December.
On Thursday of next week, we will see the Bank of England’s next interest rate decision. After rising to 0.5% in February, the rate is expected to be hiked again, to 0.75%. Any surprises could impact the pound.
