The EUR/GBP pair drops to near two-week low of 0.8380 in Tuesday’s European session.
EUR/GBP falls to near 0.8380 as investors turn cautious ahead of the ECB ’s policy meeting on Thursday. Both the ECB and the BoE are expected to cut interest rates by 25 bps in their first policy meetings of the year. Investors expect that price pressures in the Eurozone are much under control. The cross weakens as the Euro faces selling pressure, with investors focusing on the European Central Bank’s monetary policy announcement on Thursday.
Market participants are confident that ECB President Chritine Lagarde will deliver a dovish interest rate guidance in the press conference after the policy decision. A string of ECB officials has been confident that policy rates will decline to the neutral rate of 2% by the year-end. The neutral rate is one that neither weighs nor stimulate economic growth. Analysts at Citi expects the ECB to reduce interest rates by 25 bps at every meeting until at least the summer.
ECB BOE Inflation Interestrate
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