OANDA Senior Market Analyst Craig Erlam reviews the day's market news with Jonny Hart. They discuss why markets are recovering, oil falling, and the BoE.
Mar 17, 2022
by Craig Erlam
Energy news
Energy commodities are essential fuels that power modern society. Explore key energy sources like crude oil, natural gas, coal, and emerging renewable energies. Learn about their global impact on the economy and environment.
GBP/USD is down 0.28% on Thursday, trading just above the 1.31 line in the North American session.
BOE raises rates but sterling falters
The Bank of England raised rates by 0.25%, as was widely expected. This was an unprecedented third straight hike from the BoE, but the new record failed to impress investors, as the pound rose steadily prior to the hike, only to fall by 0.8% after the rate move.
Why the sour grapes from the markets after a rate hike?
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