Last week, Huw Pill, the Chief
Economist of the Bank of England (BoE), cautioned against the greater risks
associated with cutting interest rates too hastily rather than waiting. His
prudent stance on monetary policy offers some backing for the British Pound
(GBP).
Nevertheless, investors have factored in the likelihood of the BoE's
first-rate cut occurring in August, with an anticipated decrease of 50 basis
points (bps). Consequently, this anticipation may induce some selling pressure
on the Cable and limit the downside of the currency pair.
Dr. Kamaran Qader Yaqub,
Financial consultant at Investment Spot company.
