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2025-09-17 15:30:08
[Pound Sterling Holds Steady at 10-Week High Awaiting Bank of England and US Bank Decisions] ⑴ The British pound held steady above 1.363 against the US dollar, remaining near a 10-week high, as traders awaited key central bank policy decisions. ⑵ The market expects the Bank of England to maintain interest rates at 4% on Thursday while slowing its £100 billion annual bond reduction. ⑶ Latest data showed that UK inflation remained at 3.8% in August, in line with expectations and unchanged from the 18-month high reached in July. ⑷ Employment data showed the unemployment rate stable at 4.7%, while wages excluding bonuses rose by 4.8% (including bonuses, the figure was 4.7%) and the number of salaried employees fell slightly by 8,000, all in line with market expectations. ⑸ Market expectations for a Bank of England rate cut remained largely unchanged, with pricing implying only a one-in-three probability of a cut before December. ⑹ The market generally expects the Federal Reserve to cut interest rates by 25 basis points today, with traders pricing in at least two more rate cuts before the end of 2025.
