Commerzbank: Uncertain BOE Rate Path Caps Sterling Gains

Cointime reports: Commerzbank analyst Michael Pfister said in a report that sterling may struggle to rise sharply in the near term given uncertainty over whether the Bank of England will raise rates further. The BOE raised rates by 25 basis points on Thursday, with one committee member favoring a 50 basis point increase. Pfister said Governor Bailey signaled possible further hikes but gave no timing, and expects another increase in February.