The EUR/GBP cross flat lines around 0.8355 during the early European session on Thursday.
EUR/GBP remains flat near 0.8355 in Thursday’s early European session. The BoE policymaker confirmed it’s appropriate to only cut rates at a gradual pace. The ECB is expected to cut deeper interest rates until April next year, noted HSBC analysts. However, a less dovish stance from theBank of England might provide some support to the Pound Sterling .
ECB FAQs What is the ECB and how does it influence the Euro? The European Central Bank in Frankfurt, Germany, is the reserve bank for the Eurozone. The ECB sets interest rates and manages monetary policy for the region. The ECB primary mandate is to maintain price stability, which means keeping inflation at around 2%. Its primary tool for achieving this is by raising or lowering interest rates. Relatively high interest rates will usually result in a stronger Euro and vice versa.
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