Commerzbank analyst Michael Pfister said uncertainty over whether the Bank of England will hike further should limit sterling’s near-term upside. The BoE on Thursday delivered a 25bps hike; one member preferred a 50bps move. Pfister said Governor Bailey signalled the possibility of further tightening but gave no timing, and he expects another hike in February next year — though he added that if Middle East tensions ease and energy exports normalise by then the case for more tightening would weak

Commerzbank analyst Michael Pfister said uncertainty over whether the Bank of England will hike further should limit sterling’s near-term upside. The BoE on Thursday delivered a 25bps hike; one member preferred a 50bps move. Pfister said Governor Bailey signalled the possibility of further tightening but gave no timing, and he expects another hike in February next year — though he added that if Middle East tensions ease and energy exports normalise by then the case for more tightening would weaken.