Market consensus points to further easing by the Bank of England's (BoE) upcoming interest rate decision on Thursday.
Investors expect the Bank of England to cut its policy rate by 25 bps. UK disinflationary pressure gathered further steam in September. The 200-day SMA near 1.2810 holds the downside in GBP/USD. Market consensus points to further easing by the Bank of England's upcoming interest rate decision on Thursday. The BoE has held rates steady at 5.00% in the previous gathering, but shifting investor sentiment now suggests a possible 25-basis-point cut this week.
“On the upside, bulls will be initially eyeing the provisional 55-day SMA at 1.3119. The breakout of that region could put a potential visit to the 2024 peak at 1.3434 back into focus”, Pablo concludes. Economic Indicator BoE Interest Rate Decision The Bank of England announces its interest rate decision at the end of its eight scheduled meetings per year. If the BoE is hawkish about the inflationary outlook of the economy and raises interest rates it is usually bullish for the Pound Sterling .
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