BoE maintains high-interest rates, targeting a 2% inflation level by Q2 2024; GBP/USD fluctuates around 1.2602.
GBP/USD oscillates around 1.2602 amidst BoE's decision to maintain high-interest rates for a longer period. The Bank of England keeps interest rates unchanged at 5.25% annually, aiming for moderate decline towards the central bank's targeted 2% inflation level. Official forecasts suggest UK's consumer price index may reach the target by Q2 2024. Market reactions to economic data and figures are currently impactful due to the uncertain outlook for UK monetary policy.
March 24, 2024
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