<p>The BoE is due to announce its next decision on interest rates on November 3. Governor Bailey was speaking at an International Monetary Fund event in Washington. </p><ul><li>“As things stand today, my best guess is that inflationary pressures will require a stronger response than we perhaps thought in August”</li></ul><p>The previous hike was on September 22:</p><ul><li><a target=“_blank“ href=“https://www.forexlive.com/centralbank/boe-raises-bank-rate-by-50-bps-to-225-as-expected-20220922/“ target=“_blank“>BOE raises bank rate by 50 bps to 2.25%, as expected</a></li></ul><p>Bailey’s comments on a ’stronger response‘ brings a 75bp rate hike into play for the November meeting, perhaps even 100bp. </p><p><a target=“_blank“ href=“https://www.forexlive.com/terms/g/gbp/“ target=“_blank“ id=“3a5ab7c1-ff09-45ea-87d4-eea6613bb754_1″ class=“terms__main-term“>GBP</a> should get a boost in Monday morning trade. GBP has been very much the volatile beast in recent weeks in response to the fiscal announcements from the the new administration. Chancellor Kwarteng has since been fired. The noob Chancellor now is Jeremy Hunt. </p><p><a target=“_blank“ href=“https://www.forexlive.com/terms/b/bank-of-england/“ target=“_blank“ id=“c7b1a473-1b6d-47aa-acc3-15e65e973eb0_1″ class=“terms__secondary-term“>Bank of England</a> Governor Bailey:</p>

This article was written by Eamonn Sheridan at forexlive.com.