This view helped the spur on the dollar. However, the Fed narrowly maintained their December projection of requiring three 25 basis point hikes for 2024, sending the greenback sharply lower and
The Bank of England kept the bank rate on hold, as expected, but markets were more interested in the vote split after the February meeting revealed a three-way split in the decision to hike, hold or cut interest rates.However, the encouraging February inflation print appears to have convinced the two remaining hawks on the committee to vote for a hold, with the votes tallying 8 in favour of a hold and the single vote to cut from well-known dove Swati Dhingra.
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