EUR/GBP appreciates after two days of losses, trading around 0.8340 during the Asian hours on Thursday.
EUR/GBP may depreciate as a recent UK inflation report has strengthened the BoE’s caution regarding rate cuts. ECB member Yannis Stournaras remarked that the Eurozone is nearing a sustainable attainment of its 2% inflation target. The Euro may face challenges as traders expect the ECB to deliver a 25 basis point rate cut in December.
Headline inflation is usually expressed as a percentage change on a month-on-month and year-on-year basis. Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%.
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