Institutions say that UK interest rate hikes may not boost the pound, as fiscal risks persist.

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智通财经2026/09/29 10:06

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Monex Europe analysts stated in a report that the Bank of England may raise interest rates in November due to energy price shocks, but this move may not necessarily strengthen the pound.
The analysts said they are cautious about how much support the pound can gain from rate hikes forced by the energy shock, as the energy shock is also squeezing economic growth.
They noted that fiscal risks in the UK remain before the budget announcement on October 28.
UK Chancellor of the Exchequer Healy had previously emphasized fiscal discipline, but now almost all fiscal buffers have been exhausted.
However, analysts pointed out that until the fiscal situation becomes completely clear, the pound will continue to face two-way risks.
Overall, market sentiment is being pulled between expectations of UK rate hikes and fiscal uncertainty, with subsequent attention focusing on whether the details of the budget can provide a clear direction for the pound.

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Institutions say that UK interest rate hikes may not boost the pound, as fiscal risks persist.

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