Sterling steady as Bank of England weighs rate decision
Sterling is steady as the Bank of England weighs rate decisions. Markets expect a hold today amid inflation risks from the Iran war and slowing wage growth.
The British pound remained stable on Thursday as financial markets turned their attention toward the Bank of England's upcoming interest rate decision. Investors are closely monitoring the central bank for any indications of how the ongoing conflict in Iran might influence future monetary policy.
Economic data released on Thursday indicated that wages in the United Kingdom, excluding bonuses, grew at their slowest rate since late 2020 during the three months leading up to January. While the figures suggested that the recent decline in employment might be stabilizing, the broader economic outlook remains clouded by geopolitical tensions.
