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2025-11-03 22:24:29
[Pound Likely to Fall on Possible Bank of England Rate Cut This Week] Lee Hardman, an analyst at MUFG Bank, said the pound is likely to weaken as the possibility of another Bank of England rate cut on Thursday cannot be ruled out. He stated that whatever the decision, it could be very close. Bank of England Deputy Governor Dave Ramsden is likely to vote for a rate cut along with his rate-setting colleagues Swati Dhingra and Alan Taylor. Hardman said, "Bank of England Governor Andrew Bailey is likely to be the decisive swing vote, as Deputy Governor Sarah Briden has consistently voted in line with the Governor." However, he indicated that the Bank of England may first want to see further evidence of slowing inflation and the budget on November 26th. The UK money market has priced in a 36% probability of a rate cut this week. The pound fell 0.2% to $1.3122.
