For the third session in a row,
the EUR/GBP pair is seeing a decline, hovering around 0.8570 during Thursday's
European session. This drop is attributed to the Pound Sterling (GBP) gaining
traction, with market expectations leaning towards the Bank of England (BoE)
holding off on interest rate reductions until the next quarter, as suggested by
median forecasts.
Huw Pill, the Chief Economist at
the Bank of England, remarked that while the possibility of interest rate cuts
has moved closer over time and with no adverse inflation news, they are still
not imminent.
