The GBP/MYR currency pair hovered above a 9-month low of 5.4589 on Wednesday ahead of the outcome of the Bank of England’s and the Central Bank of Malaysia’s policy meetings.
The Bank of England is expected to keep its benchmark interest rate intact at 4% at its November 6th meeting.
In September, two BoE policy makers voted in favor of a 25 basis point rate cut, while seven voted for leaving rates on hold.
The central bank had cited progress in disinflation after past shocks, underpinned by restrictive policy.
Wage growth, while still elevated, has slowed and is expected to ease further.
BoE policy makers had also highlighted a gradual, data-driven approach with no pre-set trajectory for rate cuts.
Meanwhile, the Central Bank of Malaysia is anticipated to maintain its benchmark interest rate at 2.75% at its November 6th meeting.
The GBP/MYR currency pair was last up 0.15% on the day to trade at 5.4734.
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