Jane Foley of Rabobank said the pound could decline if the Bank of England shows caution on raising interest rates and if a UK by-election intensifies political concerns.
According to Jin10, Foley said weaker-than-expected UK inflation data released on Wednesday has added to debate over whether the Bank of England will extend its wait-and-see approach on Thursday.
Foley added that if Andy Burnham wins Thursday’s by-election, he could challenge Prime Minister Starmer’s leadership. She said Burnham’s left-leaning stance, along with the prospect that fiscally conservative Chancellor Reeves could be replaced, may unsettle the UK government bond market and disrupt moves in the pound.
Pound May Fall If Bank Of England Signals Caution And UK By-Election Raises Political Concerns
2026-06-17 13:59:07
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