Money markets are pricing a 10 basis points rate increase by the Bank of England (BoE) by September 2022 following British Finance Minister Rish Sunak’s budget statement, as reported by Reuters. Sunak said that the underlying debt would rise indefinitely without corrective action and noted that they cannot ignore the problem of borrowing. Last week, money markets were expecting the BoE to lower its policy rate into the negative territory in early 2022. Market reaction The GBP/USD pair clings to modest daily gains around 1.3970 after these comments despite the broad-based USD strength. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Cardano Price Prediction: ADA could retrace in the short-term before massive 20% breakout FX Street 1 year Money markets are pricing a 10 basis points rate increase by the Bank of England (BoE) by September 2022 following British Finance Minister Rish Sunak's budget statement, as reported by Reuters. Sunak said that the underlying debt would rise indefinitely without corrective action and noted that they cannot ignore the problem of borrowing. Last week, money markets were expecting the BoE to lower its policy rate into the negative territory in early 2022. Market reaction The GBP/USD pair clings to modest daily gains around 1.3970 after these comments despite the broad-based USD strength. Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
