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In the Asian session on Wednesday (March 22), GBP/USD rose slightly, temporarily reporting 1.2220, an increase of 0.01%. Earlier data showed that Britain recorded a budget deficit of 16.68 billion pounds in February, far higher than expected in a Reuters poll. And the market expects the Bank of England to suspend the increase this week.
Economists believe that the current British budget is mainly focused on the supply side, private sector wages have cooled more than the Bank of England expected, and the global background currently includes rising uncertainty and concerns about financial stability.
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Analysts at Morgan Stanley expect the BoE could become the first central bank in the G3 to pause interest rate hikes at its upcoming meeting.
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