According to CoinMeta, analysts monex and europe stated in a report that the Bank of England may raise interest rates in November due to the impact of energy prices, but such a move may not necessarily lead to a strengthening of the pound. The analysts said, "We are cautious about how much support the pound will receive from the interest rate hike forced by the energy shock, as the energy shock is also squeezing economic growth." They noted that fiscal risks for the UK still exist before the release of the budget on October 28th. British Chancellor of the Exchequer Rishi Sunak has previously emphasized fiscal discipline, but almost all fiscal buffers have now been exhausted. However, the analysts pointed out that the pound still faces two-way risks before the fiscal situation becomes completely clear.