16 December 2022 | Other

TD Securities: pound sterling doesn’t receive support from the Bank of England

Expectations of specialists and market participants came true — the Bank of England increased Bank Rate by 50 basis points to the level of 3.50%. Thus, the pound sterling is left without much support from the British central bank, according to a report by TD Securities economists.

As the economists stated, the delivered rate hike by 50 basis points to 3.5% had been forecasted, and the country’s financial authority also indicated a possibility of more hikes in the future.

The specialists of TD Securities suppose that less forward guidance over the bank’s tightening policy implies less support for the national currency.

They also suggested that the pound sterling had already gone through most of the rate-hiking cycle, but they also noted emerging weakness on the crosses (against the euro, in particular).

Company MarketCheese
Period: 17.09.2025 Expectation: 500 pips
Buying SPX on 0.5% Fed rate cut
Today at 11:38 AM 114
Period: 24.09.2025 Expectation: 1500 pips
USDCAD is set to fall ahead of interest rate decisions
Today at 10:57 AM 94
Period: 23.09.2025 Expectation: 500 pips
NVIDIA shares approach gap closure at $170.50
Today at 10:26 AM 88
Period: 31.12.2025 Expectation: 200 pips
Buying NVIDIA shares with $195 in view
Today at 08:54 AM 28
Period: 24.09.2025 Expectation: 1300 pips
EURUSD is expected to correct after Fed announces rate decision
Today at 07:14 AM 98
Period: 23.09.2025 Expectation: 3000 pips
Buying Bitcoin with $118,800 target amid consolidation
Yesterday at 10:53 AM 250
Go to forecasts