The pound weakens ahead of the Bank of England's policy decision, with Commerzbank expecting a vague statement that will not indicate a rate hike in September.

智通财经2026/07/31 00:41

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Before the Bank of England announces its policy decision at 11:00 GMT (19:00 Beijing time), the pound fell 0.16% against the US dollar to 1.3345, while the euro rose 0.1% against the pound to 0.8573. The market generally expects the central bank to keep interest rates unchanged, and investors are closely monitoring any signs of a possible rate hike.
Commerzbank analyst Michael Pfister stated that, given the recent moderation in inflation, fragile economic recovery, and uncertainties caused by the Iran war, the Bank of England may not hint at a rate hike in September but rather keep its statement deliberately vague.
He pointed out that the Bank of England hopes to delay the decision to raise interest rates as much as possible, and ideally “would prefer to avoid a rate hike altogether and shift back to a rate cut soon.”

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The pound weakens ahead of the Bank of England's policy decision, with Commerzbank expecting a vague statement that will not indicate a rate hike in September.

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