The pound euro (GBP/EUR) exchange rate is falling after two days of gains.
The pound is under pressure after UK CPI cooled to 2.8% YoY from 3% in January. Core CPI eased to 3.5% from 3.7%.
The Chancellor’s Spring Statement saw growth forecasts slashed to 1% and spending cuts.
The BoE is expected to cut rates twice more this year.
The EUR has come away from session highs and is falling against the USD amid jitters surrounding potential US trade tariffs.
ECB policymaker Villeroy de Galhau still sees inflation cooling to 2% by the summer.
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