Lates News

eToro analyst Lale Akoner said that the pound may face pressure as the Bank of England is dealing with a challenging situation of weak growth and high inflation or stagflation. Due to inflation still being high, the Bank of England may need to cut interest rates by a level that is "far beyond what is appropriate." She said that with the tightening of fiscal policy in the UK, the Bank of England is under pressure to boost the economy, but should keep rates unchanged until core inflation eases. She said that as the UK's economic growth is expected to remain weak compared to the US, and the Federal Reserve remains cautious about cutting rates, the pound against the dollar may drop in the next three to six months.