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2025-09-12 16:15:58
The Pound's Trend Awaits a Split Vote at the Bank of England Meeting and Details of the QT Plan. ⑴ The Bank of England's Monetary Policy Committee is expected to maintain its policy rate at 4% on September 18th, but the vote could be split. ⑵ Member Taylor is highly likely to vote for a rate cut, and his dovish colleague Dhingra may also support easing. ⑶ If Ramsden, the Bank's most dovish member, votes for a rate cut next week, the Pound could come under pressure, but a shift to easing in November or December is more likely. ⑷ The Bank of England will also announce the scale of quantitative tightening for the coming year, projected to slow from £100 billion per year to £75 billion or £50 billion. ⑸ A reduction in quantitative tightening to £50 billion could support the Pound, as it could lower UK government bond yields. ⑹ The surge in long-term UK government bond yields to a 27-year high last week contributed to the Pound's weakness.
