{
  "id": 8097973,
  "title": "British Pound Sterling slides after the Bank of England stays put",
  "url": "https://urgent.news/2026/09/17/british-pound-sterling-slides-after-the-bank-of-england-stays-put",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-17T20:56:24.000Z",
  "source": {
    "name": "FXStreet",
    "slug": "fxstreet",
    "url": "https://www.fxstreet.com/news/british-pound-sterling-slides-after-the-bank-of-england-stays-put-202609172056"
  },
  "original_language": "en",
  "account": "The British Pound Sterling has weakened after the Bank of England kept interest rates steady. The currency slipped to a session low of 1.3336, its weakest point since mid-July, and has been trading below its 200-day average since Wednesday. The Bank of England maintained its Bank Rate at 3.75%, with three of its nine members voting for a rise to 4% and none supporting a rate cut. Despite this leaning towards an increase, the Pound still declined. UK consumer price inflation rose to 3.1% in August, a five-month high and the first time above 3% since March, with motor fuel contributing significantly. The committee predicted inflation would continue to rise in the coming quarters, with the Bank's own forecast indicating rates could exceed 4% by early 2027. Three committee members advocated for an immediate response to this trend, while Bank Governor Bailey argued against it. The Bank also decided to slow its gilt sales to £20 billion per year. The market anticipates a quarter-point rate increase at the November 5 meeting, with the Bank Rate reaching 4.18% by year-end, and a potential four increases by December 17. The same forecast projects Sterling to be worth more than the Dollar a year from now, leading to a decrease in the exchange rate. The Federal Reserve is expected to raise rates as well, but the UK's softer labor market adds to the Pound's downward pressure. The Bank of England will meet again on November 5, leaving the Pound without any official guidance in the interim. The upcoming data releases, including UK retail sales, flash purchasing surveys, and UK flash purchasing surveys, will further influence the Pound's value.",
  "summary": "GBP/USD trades near 1.3350 after a session low at 1.3336, its weakest since the end of July, and it has been under its 200-day average since Wednesday. The Bank of England left Bank Rate at 3.75%, with three of its nine members voting for an increase to 4% and none voting for a cut.",
  "key_points": [
    "British Pound weakens to 1.3336 after Bank of England keeps rates steady",
    "UK inflation hits 3.1% in August, highest in five months",
    "Bank of England slows gilt sales to £20 billion annually"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 6,
    "also_reported_by": [
      {
        "outlet": "City AM",
        "title": "Borrowing costs fall after Bank of England ‘surprises’ markets with bond sale change",
        "url": "https://urgent.news/2026/09/17/borrowing-costs-fall-after-bank-of-england-surprises-markets-with",
        "published": "2026-09-17T15:14:38.000Z"
      },
      {
        "outlet": "Guardian Business",
        "title": "The Bank of England is shaking up its bond sales – why does it matter?",
        "url": "https://urgent.news/2026/09/17/the-bank-of-england-is-shaking-up-its-bond-sales-why-does-it-matter",
        "published": "2026-09-17T15:45:42.000Z"
      },
      {
        "outlet": "Hellenic Shipping News",
        "title": "Bank of England floats a November rate hike if energy prices don’t come down",
        "url": "https://urgent.news/2026/09/17/bank-of-england-floats-a-november-rate-hike-if-energy-prices-dont",
        "published": "2026-09-17T17:00:55.000Z"
      },
      {
        "outlet": "This Is Money",
        "title": "Bank of England goes it alone as rates left on hold: Bailey hints at November hike as inflation pressures build",
        "url": "https://urgent.news/2026/09/17/bank-of-england-goes-it-alone-as-rates-left-on-hold-bailey-hints-at",
        "published": "2026-09-17T21:00:52.000Z"
      },
      {
        "outlet": "Qatar Tribune Business",
        "title": "Bank of England keeps rates at 4% as inflation looms",
        "url": "https://urgent.news/2026/09/17/bank-of-england-keeps-rates-at-4-as-inflation-looms",
        "published": "2026-09-17T21:27:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}