GBP hammered in wake of BoE decision as fears of recession grow. But other central banks will take a similar view and this could release pressure on GBP.
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The British Pound has come under notable pressure after the Bank of England raised interest rates but warned the economy was due to slow sharply over coming months.
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TD Securities on potential outcomes for the Pound in the wake of Bank of England interest rate decision.
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A falling Pound Sterling boosts UK inflation and is therefore a potential concern for the Bank of England as it goes about its business of setting interest rates and trying to stabilise inflation.
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Bank must keep hiking to stave off inflation, even if it results in recession. And the GBP will bear the cost.
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Analysts at ABN AMRO have said they are slashing their forecasts for the British Pound on the belief the Bank of England is nearly done with rate hikes.
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A recovery mid-week has offered under pressure investors some relief, aiding a rebound in the Pound.
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