EUR/GBP retraces its recent losses from the previous session, trading around 0.8340 during Friday’s Asian hours.
EUR/GBP gains ground ahead of the speeches from ECB’s Philip Lane and Piero Cipollone on Friday. The Euro may face challenges as the ECB is widely expected to deliver another rate cut in October. The Pound Sterling receives support as the BoE is expected to reduce rates more gradually compared to other central banks.
Repos, or repurchase agreements, allow banks to temporarily exchange government bonds for central bank cash, helping to maintain market interest rates in line with the BoE’s policy rate, according to Reuters. Interest rates FAQs What are interest rates? Interest rates are charged by financial institutions on loans to borrowers and are paid as interest to savers and depositors. They are influenced by base lending rates, which are set by central banks in response to changes in the economy.
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