The EUR/GBP cross trades on a weaker note around 0.8355 during the early European session on Thursday.
EUR/GBP softens to around 0.8355 in Thursday’s early European session. The ECB is widely anticipated to reduce interest rates by 25 bps at its upcoming meeting on Thursday. Slowing inflation in the UK has boosted the BOE cut bets. The rising expectation that theEuropean Central Bank will lower interest rates again on Thursday undermines the shared currency against the Pound Sterling . The ECB is expected to cut the deposit rate by another quarter-point to 3.
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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