Christopher Nye
on January 31st, 2023 Despite nervousness, sterling remains close to a six-week high against the dollar (hit on January 23rd), in the run up to the Bank of England’s policy announcement this week. Yesterday, the pound also remained close to its 7-month high against the dollar.
Most analysts believe the BoE is set to raise interest rates by half a basis point, to 4.0%, in an attempt to tackle double-digit inflation. Meanwhile markets are split on how much further rates will continue to rise.
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