BOE Rate Hike Still Leaves Sterling Uncertain – 2 August, 2018

The Bank of England decided to rise interest rates by 25 basis points, though the pound still suffered as it failed to convince markets that the economy will have a better outlook. Rates were raised by 0.75 percent, but sterling fell to its lowest since mid July despite BOE’s efforts to convince the market that there may be another hike though there hasn’t been a set Brexit plan. The pound slipped by 0.9 percent to $1.3016.