Fed Hikes Rate, BoE Next Up!
As predicted, the Fed raised the federal funds rate by 75 bps which was the highest in nearly 15 years.
The Fed’s battle against inflation has been less effective than policymakers had hoped, as inflation in August was 8.3%.
Now it is the turn of the Bank of England, as they are set for the second hefty rate rise in a row.
With cable hitting a 37-year low, what will be the next direction for the currency pair?