The pound euro (GBP/EUR) exchange rate is rising for a second straight day.
The pound is rising after the BoE left interest rates unchanged at 5% in an 8-1 vote. Inflation held steady at 5% in August, but service sector inflation was hotter than expected.
The central bank signaled that another rate reduction was likely, possibly as soon as the next meeting in November but warned that it would adopt a gradual approach to easing.
The euro fell amid a quiet economic calendar and after the ECB cut interest rates last week. The central bank divergence pulled the pair lower.
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