EUR/GBP trims its intraday gains following the release of HCOB Purchasing Managers Index (PMI) data from the Eurozone and Germany, trading around 0.8430 during Wednesday’s European session.
EUR/GBP pares its intraday gains after the downbeat HCOB PMI data from Eurozone and Germany. Eurozone Services PMI decreased to 52.9 in August, from 53.3 in the previous month. The Pound Sterling may appreciate it as the BoE is expected to deliver no rate cut in September. EUR/GBP trims its intraday gains following the release of HCOB Purchasing Managers Index data from the Eurozone and Germany, trading around 0.8430 during Wednesday’s European session. The Eurozone Services PMI decreased to 52.
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%.
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