Britain's response to the crisis market: No surprises expected

Britain's response to the crisis market: No surprises expected Monetary interest rates remain a key factor in valuing the value of the currency. The likelihood that BOE will raise the interest rate again tomorrow is very high. Nevertheless, although inflation in the UK is still high, given the very difficult situation in the British economy, the interest rate may remain at the same level.While the pound is trading near its annual high and preparing for its breakdown following the BOE meeting, the cost-of-living crisis is unnerving thousands of British households. The key mortgage rate has risen to its highest level since December 2022, with the average two-year fixed-rate home loan now standing at 6.01 per cent, according to Moneyfacts Group Plc.The UK housing market is under pressure from expensive borrowing, economic uncertainty and the worst cost-of-living crisis in a generation. Some major companies, including HSBC Holdings Plc and Banco Santander SA, have temporarily abandoned consumer lending services. In 2-3 months, high-interest rates on loans will also appear at consumer prices.So far, the government has managed to avoid a recession. But the current rate is already the highest since 2008 and affects the growth of defaults among individuals and businesses. Economists fear that BOE will have no choice but to slow the economy. If rates reach 6%, Britain faces spontaneous unemployment.The comments of British financial figures will be traditionally vague and are unlikely to affect the market dynamics.Particular attention should be paid to the monetary policy report: the soft tone of the report will contribute to the weakening of the pound. Conversely, the report's tough rhetoric on inflation, implying a further interest rate hike, will cause the pound to rise in all assets.Profits to yall!#ForexChief #BOEmeeting #Moneyfacts #forexnews #stocks #worldnews #Market