The Bank of England (BoE) meeting on Thursday could see Sterling suffering if the central bank pauses rate hike cycle, economists at Commerzbank report.

The BoE will probably be seen as the more hesitant central bank

“It is decisive whether the BoE actually delivers on Thursday. If it does not do that Sterling is likely to suffer notably.”

“One way or the other the BoE will probably be seen as the more hesitant central bank, in particular in comparison with the ECB, so that we remain sceptical for Sterling medium term.”