BOE Pill: Sees the need to raise the bank rate to 4.00%. GBPUSD moves higher on the news.
Bank of England Chief Economist Huw Pill is speaking and says: My own response has pointed to a need to raise Bank Rate to 4%. Raising Bank Rate on this basis need not be the start of a prolonged and aggressive series of increases. A prompt increase in Bank Rate may serve to head
GBP/USD — All Desk Targets
| Firm | Stance | YE 2026 |
|---|---|---|
Rabobank | Bearish | 1.3300 |
ING | Neutral | 1.3500 |
MUFG | Bullish | 1.4000 |
All 20 desk targets for GBP/USD
Desk synthesis pending
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GBP/USD Consensus Check: 1.35 Target, 1.26 Spread — Week of Nov 7, 2026
Cable sits 1.09% below the 20-firm median Dec-26 target of 1.35, with a 0.26-point dispersion that reflects sharply divided BoE-vs-Fed rate paths.
GBP/USD Consensus Check: 1.35 Target, 0.26 Spread — Week of Nov 6, 2026
Cable trades at 1.3396, roughly 0.77% below the 20-firm median Dec-26 target of 1.35, with a 0.26-point dispersion that reflects deep disagreement on the BoE-Fed rate path.
Bank of England raised rates to 4.00% — Sterling navigates a split MPC and murky growth signals
On 2026-11-04, the Bank of England raised its policy rate to 4.00% from 3.75%. Here is where the major banks now see the currency heading.