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Dovish Hike. The Bank of England hike rates for the third meeting in the row and GBP falls! 🤔 The 25bps hike was fully expected by markets, what wasn't was that deputy governor Jon Cunliffe dissented and voted to leave rates unchanged. Cunliffe placed great weight on the very material negative impacts of higher commodity prices on real household incomes and activity. Markets now see the benchmark rate hitting 2% by year-end, compared to almost 2.25% before the decision, with GBPUSD down a full point since the announcement. #bankofengland #interestrates #economy #uk #finance

  • Bank of England hike rates

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