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: 21.11.2025 Expectation: 1078 pips
GBPUSD falls as bullish pressure fades and budget risks loom
Yesterday at 11:04 AM 21
Brent sell
Period: 28.11.2025 Expectation: 300 pips
Brent crude capped by $65–$66 resistance
Yesterday at 09:27 AM 28
Period: 21.11.2025 Expectation: 660 pips
AUDCAD may enter short-term correction
Yesterday at 09:19 AM 21
Period: 21.11.2025 Expectation: 800 pips
Selling SPX as risk-off mood kicks in
Yesterday at 07:05 AM 17
Period: 20.11.2025 Expectation: 280 pips
Fading bullish momentum is good reason to sell natural gas
13 November 2025 45
Period: 31.12.2025 Expectation: 800 pips
USDCAD with 1.4090 play is worth buying
13 November 2025 50
Go to forecasts