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Pound rises to post-referendum high ahead of expected Bank of England rate hike

1 reports1 sources11/4/2026 updated

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The pound has risen to its highest level since the 2016 Brexit referendum, and markets widely expect the Bank of England to raise interest rates this week for the first time in three years. The Bank of England's Monetary Policy Committee is scheduled to decide on rates this Thursday. Traders attribute the sterling rebound to relative political stability, stronger economic growth, and an easing of UK–EU relations, prompting a market reassessment of the pound. Former Chancellor Jim O'Neill said the momentum behind the UK economic improvement had previously been underestimated.

Written with AI from the reporting · updated 11/5/2026

Latest developmentNov 5, 05:35
Pound rises to highest level since Brexit referendum as UK rate hike expected
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  1. 1Unclassified fact stationNov 5, 06:18single sourcereport-time onlyrevised

    英镑升至脱欧公投以来最高水平

    Read original source ↗ BBC BusinessReplay this moment in the explorer
    Evidence & revisions · 1 source records
    Subject：
    英镑
    Action：
    上升
    Object：
    英镑汇率
    Occurred (fact side)：
    not recorded
    BBC Business ↗Report pageRevision 3 · currently revised
    Published (valid side)：
    Nov 5, 05:35
    First seen (known side)：
    Nov 5, 06:18
    Fact stationSingle source · one-sided claimRevisedReport-time only

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Nov 5
  1. BBC BusinessRelated fact: single sourceFact occurrence time unverifiedSource report revised
    Pound rises to highest level since Brexit referendum as UK rate hike expected

    Report first recorded Nov 5, 06:18

    Sterling has climbed to its strongest level since the June 2016 Brexit vote, supported by political stability, solid growth and improved EU relations. A stronger pound may help curb inflation and boost consumer purchasing power for imports and travel. The Bank of England's Monetary Policy Committee is expected to raise interest rates on Thursday, the first increase in three years, even as high energy prices weigh on consumer confidence.

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