# Pound boosted with BOE seen staying on hold until after election - The Business Times

> Sterling's rally extended as traders judged a Bank of England rate cut in June unlikely after Prime Minister Rishi Sunak called a July 4 general election. Analysts at Citigroup and Jefferies said the election reduces the chance of a near-term cut.

- Date: 2024-05-26 · published 2024-05-26T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/30521-pound-boosted-with-boe-seen-staying-on-hold-until-after-election-the-business
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Higher-for-longer UK rates support sterling and widen its yield advantage over the euro. The effect on feed commodity prices is minimal.

## Read by commodity

- GBPUSD: bullish ▲

## Sources

- businesstimes.com.sg: https://www.businesstimes.com.sg/companies-markets/pound-boosted-boe-stay-hold-until-after-election

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.