Sterling enters interest rate day weaker than the euro but stronger than the US dollar compared to this time yesterday. On a weekly comparison, the pound has lost approximately 0.65% against the euro while gaining around 2% against the US dollar.
The mixed performance comes after the latest inflation data jolted expectations of a less hawkish stance from the BoE. As such, many will be watching to see what the Bank decides. Investors will also be keeping a close eye on whether today’s decision impacts the pound.
