Monex Europe strategist Nick Rees said after the Bank of England left the policy
rate at 3.75% on Thursday that upcoming UK economic data and domestic political
developments will determine whether the pound weakens further. Two of nine MPC
members voted to raise rates, but BoE communications signalled an overall lack
of urgency to change policy in the near term. Rees said further evidence of
economic weakness combined with rising political risk could push the pound
lower.
