{"id":100318,"date":"2020-05-20T11:28:24","date_gmt":"2020-05-20T15:28:24","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=100318"},"modified":"2020-05-20T15:11:27","modified_gmt":"2020-05-20T19:11:27","slug":"103251-gbp-eur-bailey-says-boe-has-negative-rates-under-active-review","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103251-gbp-eur-bailey-says-boe-has-negative-rates-under-active-review\/","title":{"rendered":"GBP\/EUR: Bailey Says UK Negative Interest Rates under \u2018Active Review\u2019"},"content":{"rendered":"

The British pound<\/a> is lower against the euro on Wednesday.<\/p>\n

Sterling fell after the Governor of the Bank of England told UK lawmakers that negative interest rates\u00a0 were under \u2018active review\u2019.<\/p>\n

Both the UK and Eurozone released inflation data and it was the UK that undershot economist\u2019s expectations by the bigger margin, weighing on the pound and giving a lift to the euro.<\/p>\n

Pound versus Euro was lower by 49 pips (-0.47%) to 1.1163 as of 3pm GMT.<\/p>\n

GBP\/EUR<\/a> dropped below the 1.12 handle in early trading, falling to 1.117 before re-testing 1.12 and turning lower and finally stabilising near 1.115.<\/p>\n

Yesterday the exchange rate rose +0.38% but today\u2019s losses take it lower for the week by -0.25%.<\/p>\n

Check real time GBP to EUR exchange rate<\/span><\/a><\/div>\n

GBP: Negative UK rates coming?<\/h2>\n

In his testimony to the Treasury Select Committee of MPs, the Bank of England\u2019s Andrew Bailey said that the UK central bank was keeping the \u2018lower bound\u2019 (meaning the lowest in which interest rates can be cut)- under \u2018active review\u2019.<\/p>\n

The BOE\u2019s apparent openness to negative interest rates means there is now more space to lower the benchmark UK interest rate further, despite already standing at a record low of only 0.1%. The European Central Bank already has a negative deposit rate in place, which had been one reason for the pound to hold above parity against the euro until now.<\/p>\n

EUR: Inflation falling faster in UK<\/h2>\n

Euro-area inflation fell to just 0.3% year-over-year in April from 0.4% in March but the drop was mostly caused by energy prices and core prices, which strip out food and fuel prices remained steady at 0.9% y\/y.<\/p>\n

The rate of inflation in the UK was higher than that of Europe as of April, but the rate of change in inflation to the downside was bigger. UK CPI inflation rose 0.8% in April, nearly half the 1.5% in March. Again core prices held steadier but did also declined to 1.4% y\/y from 1.6%.<\/p>\n

The euro has been building some upside momentum since the announced plans of an \u2018EU recovery fund\u2019 late on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"

The British pound is lower against the euro on Wednesday. Sterling fell after the Governor of the Bank of England told UK lawmakers that negative interest rates\u00a0 were under \u2018active review\u2019. Both the UK and Eurozone released inflation data and it was the UK that undershot economist\u2019s expectations by the bigger margin, weighing on the […]<\/p>\n","protected":false},"author":163946608,"featured_media":3803,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[2649,2410,2562,2776],"class_list":{"0":"post-100318","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-eur-gbp","10":"tag-gbp-eur","11":"tag-negative-interest-rates","12":"tag-uk-negative-rates"},"acf":[],"yoast_head":"\nGBP\/EUR: Bailey Says UK Negative Interest Rates under \u2018Active Review\u2019 - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/103251-gbp-eur-bailey-says-boe-has-negative-rates-under-active-review\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jasper Lawler\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103251-gbp-eur-bailey-says-boe-has-negative-rates-under-active-review\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103251-gbp-eur-bailey-says-boe-has-negative-rates-under-active-review\\\/\"},\"author\":{\"name\":\"Jasper Lawler\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/7cdd4328aaa82c6c13caee5961755200\"},\"headline\":\"GBP\\\/EUR: Bailey Says UK Negative Interest Rates under \u2018Active Review\u2019\",\"datePublished\":\"2020-05-20T15:28:24+00:00\",\"dateModified\":\"2020-05-20T19:11:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103251-gbp-eur-bailey-says-boe-has-negative-rates-under-active-review\\\/\"},\"wordCount\":376,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103251-gbp-eur-bailey-says-boe-has-negative-rates-under-active-review\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100145-gbp-eur-boe-interest-rate.jpg\",\"keywords\":[\"eur\\\/gbp\",\"gbp\\\/eur\",\"negative interest rates\",\"uk negative rates\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103251-gbp-eur-bailey-says-boe-has-negative-rates-under-active-review\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/103251-gbp-eur-bailey-says-boe-has-negative-rates-under-active-review\\\/\",\"name\":\"GBP\\\/EUR: Bailey Says UK Negative Interest Rates under \u2018Active Review\u2019 - 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