Pound Sterling is poised for strength in April, benefiting from seasonal trends – BofA

Market news

21 March 2024

Pound Sterling is poised for strength in April, benefiting from seasonal trends – BofA

Economists at the Bank of America analyze the Pound Sterling (GBP) outlook ahead of the Bank of England's forthcoming policy decision.

BoE to maintain its interest rate stance

The BoE is expected to keep rates unchanged with a possible inclination towards caution, reflecting on services inflation and wage dynamics.

Limited direct market impact from the BoE's decision is expected due to minimal rate cut anticipations.

Supported by favorable carry trades and a benign risk environment, GBP is poised for strength in April, benefiting from seasonal trends.

BoE Preview: Pound Sterling could benefit somewhat from a fairly quiet meeting – Commerzbank

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