The GBP/SGD currency pair hovered above an 8-month low of 1.7011 on Wednesday ahead of the outcome of the Bank of England’s policy meeting.
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, Singapore’s private sector has registered the strongest growth since August 2024 in October, the latest PMI data showed. The S&P Global Singapore PMI went up to 57.4 in October from 56.5 in September.
Output rose at the fastest rate in 14 months and new orders recorded their sharpest growth in 13 months.
The GBP/SGD currency pair was last little changed on the day to trade at 1.7027.
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