Although the Bank of England has in all probability ended its cycle of interest rate hikes, the market is still infatuated with monetary policy.The Bank’s Governor faced a barrage of questions at his press conference last week about when the Bank will begin to bring interest rates lower. Especially given his assertion that inflation will begin to recede markedly beginning with the data for October wish is due to be published on October 15th.However, while several major bank economists believe that the Bank should be considering a cut in rates to provide a boost to the economy, the minutes of last week’s meeting indicate that last week’s decision amounted to a “hawkish hold”.Even though the vote was 6-3 in favour of a pause the minutes showed that the majority while voting for a pause agreed that rates should remain “elevated “for a significant period. One member of the committee, presumably Swati Dhingra, who has never voted for an increase in over a year of membership, believes that the effects of earlier tightening are still coming through due to the lag in the delayed impact on the economy.Beyond Currency Market Commentary:Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.