Nomura Securities: sterling may rise further after BoE resolution on cautious pace of rate cuts
Sterling could rise further after the Bank of England voted 8-1 on Thursday to leave interest rates unchanged and hinted at a cautious pace of future rate cuts, Nomura Securities said. “The Monetary Policy Committee does not seem to have the appetite for a hasty rate cut,” analysts at Nomura Securities said in a report. They said current expectations for a rate cut seem too high and could be lowered, which should favor the pound, especially as global risk appetite improves and many other central banks could cut rates sooner than the Bank of England.
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