The EUR/GBP currency pair retraced recent gains on Friday, trading around 0.8390 in the Asian session, amid expectations of an ECB rate cut this month. Lower inflation data in the Eurozone bolstered the likelihood of a 25 basis point rate reduction by the European Central Bank in October.
EUR/GBP loses ground as lower inflation data in the Eurozone bolstered the likelihood of an ECB rate cut this month. Markets reflect a 95% probability of a 25 basis point rate cut by the European Central Bank in October. BoE DMP survey showed that one year ahead expected inflation by UK firms declined by an additional 0.1% in Q3. EUR/GBP retraces its recent gains, trading around 0.8390 during the Asian session on Friday.
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. Central banks normally have a mandate to ensure price stability, which in most cases means targeting a core inflation rate of around 2%.
EUR/GBP ECB Rate Cut Inflation Boe
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