Sterling Could Fall if BOE Holds Rates Steady, Political Uncertainty Persists

Dow Jones06-30

1043 GMT - Sterling could fall moderately against the euro as the Bank of England is likely to avoid lifting interest rates this year while U.K. political uncertainty remains elevated, Rabobank's Jane Foley says in a note. The BOE would only vote to raise rates if there is clear evidence that another period of prolonged high energy prices is generating second round inflation effects, she says. Meanwhile, the U.K.'s potential next prime minister, Andy Burnham, said he would stick to the fiscal rules but his plans were vague regarding funding. Political uncertainty can hurt business confidence, investment and growth, she says. The euro trades flat at 0.8610 pounds and Rabobank expects it to reach 0.87 on a one- to three-month view. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

June 30, 2026 06:43 ET (10:43 GMT)

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Meanwhile, the U.K.'s potential next prime minister, Andy Burnham, said he would stick to the fiscal rules but his plans were vague regarding funding. Political uncertainty can hurt business confidence, investment and growth, she says. The euro trades flat at 0.8610 pounds and Rabobank expects it to reach 0.87 on a one- to three-month view. 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