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UK interest rates, GBP/USD and other key markets with OANDA’s Craig Erlam
UK Investor Magazine
The Market Settlement of the 0.5% Interest Rate Hike
There's always some volatility around the move. But if you actually look at how the pound has performed since, it's actually a little bit weaker. So that really kind of maybe aligns with this idea that there wasn't as much of a shock as you would have otherwise thought. I think there was a bit of a spike in the immediate aftermath, but it quickly gave those back. And then the biggest shift has been an interest rate expectation. Prior to that announcement, the markets are pricing in rates rising to 6% rather than 6.25. It will be interesting to see what happens if the economy starts to roll over in that sense.
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