The GBP/USD price continued its recovery process after the latest interest rate decision by the Federal Reserve and the strong UK consumer inflation data.
Bank of England's decision ahead
This will be a closely-watched decision considering that the UK is facing one of the worst inflation in recent memory. Therefore, the BoE will grapple with how to handle the situation together with the ongoing bank challenges. Analysts expect that the bank will carry on with a 0.25% rate hike, pushing the headline lending rate to 4.25%. It will then point to a pause in May as it reviews the impact of the last rate hikes.
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