EUR/GBP recovers intraday losses, trading around 0.8430 during the early European hours on Friday.
EUR/GBP recovers its daily losses following the remarks from ECB Policymakers. ECB Governing Council member Bostjan Vasle stated that the central bank is not committed to any predetermined rate path. BoE is expected to deliver additional rate cuts following a slowdown in UK wage growth and flat GDP data. However, the EUR/GBP cross faced challenges following the European Central Bank’s interest rate decision on Thursday. The ECB reduced the Main Refinancing Operations Rate to 3.
On the UK front, Consumer Inflation Expectations will be eyed. 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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