Be accountable for your actions at work so you don’t have to suffer anymore from wastage, Anwar tells civil servants after announcing record raise
Sterling was last up almost 0.3 per cent against the dollar at US$1.2580 , having last week touched US$1.2634, its highest level since April 10.The BoE is widely expected to keep its key interest rate unchanged at 5.25 per cent when it announces its policy on Thursday, as it has done since lifting to that level in August last year.“We expect the MPC to soften its communication, priming the markets for an imminent start to a cutting cycle,” said Danske Bank analyst Kirstine Kundby-Nielsen.
The repricing has also been evident in Europe and particularly the US, where markets expect the Federal Reserve to keep interest rates higher for longer on the back of sticky inflation and a robust labour market, even with signs of softening. “It means that GBP is unfortunately caught in the middle,” they add, cutting their forecast for sterling to trade at US$1.24 from US$1.30 over a three-month horizon.