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More interest rates hikes likely in the coming months

November 11, 2022| Forex Market

Bank of England (BoE) Governor Andrew Bailey said on Friday, “more increases to interest rates likely in the coming months.”

Additional quotes

“Efforts to bring inflation under control are likely to take between 18 months and two years.”

“Sensible for firms to direct pay rises towards the lower paid.”

Market reaction

GBPUSD is keeping its range at around 1.1730 despite Bailey’s hawkish remarks, adding 0.15% on the day.

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