The British Pound remains reasonably well-bid after the Bank of England hiked interest rates by 25 basis points and revealed that 4 out of the nine voting members argued for a 50 basis point increase. An updated inflation outlook, with price pressures seen hitting 7%+ in Spring before subsiding, kept the hawkish theme alive and underpinned market expectations of around another 120 basis points of rate hikes this year with the Base Rate expected to hit 1% by May.
