EUR/GBP remains stable near 0.8350 during early European trading hours on Monday.
EUR/GBP faces challenges as traders expect the ECB to deliver a rate cut in December. The European Commission forecasts 0.8% growth for the Euro Area in 2024, maintaining its projection from the Spring estimate. UK Economist Ruth Gregory expects that the BoE will hold interest rates steady at 4.75% in December. The EUR/GBP cross faces headwinds as the Euro remains under pressure due to the European Central Bank's dovish outlook, with a policy rate cut anticipated at its December meeting.
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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