GBP Flatlines Above 1.3350 Amid Rising Inflation and Hawkish Central Banks

The British Pound has remained flat above 1.3350 despite rising inflation in the UK. The Bank of England's Monetary Policy Committee (MPC) voted 6-3 to hold the Bank Rate at 3.75% on Thursday, with policymakers warning that a hike is becoming increasingly likely.

Three dissenting members voted for a 25 basis points hike to 4.0%, while data from LSEG suggests that a similar hike of at least 25 bps is anticipated at the next meeting in November.

The US Federal Reserve, on the other hand, announced a quarter-point hike on Wednesday, with Fed Chair Kevin Warsh stating that 'the plain fact is that inflation is too high and has been for too long.'