According to CoinMeta, Michael Pfeister, an analyst at Deutsche Bank, stated in a report that given the uncertainty surrounding whether the Bank of England will raise interest rates further in the future, it may be difficult for the pound to rise significantly in the short term. The Bank of England raised interest rates by 25 basis points on Thursday, with one member advocating for a 50 basis point increase. Pfeister noted that Bank of England Governor Andrew Bailey signaled the possibility of further rate hikes in the future, but did not disclose a specific timeline. He expects the Bank of England to raise rates again next February. However, he pointed out, "If by then the situation in the Middle East has stabilized and energy exports have returned to normal, then the rationale for further rate hikes will not be as strong."