{"id":112879,"date":"2022-08-08T07:05:11","date_gmt":"2022-08-08T06:05:11","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=112879"},"modified":"2022-08-08T07:06:20","modified_gmt":"2022-08-08T06:06:20","slug":"107204-gbp-eur-pound-tumbles-amid-boes-recession-warning","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107204-gbp-eur-pound-tumbles-amid-boes-recession-warning\/","title":{"rendered":"GBP\/EUR: Pound Tumbles amid BOE\u2019s Recession Warning"},"content":{"rendered":"<ul>\n<li>Pound slides against EUR for the third day<\/li>\n<li>BOE warns of a long recession<\/li>\n<li>FTSE 100 continues to climb<\/li>\n<li>UK\u2019s GDP is expected to contract by -0.2% in Q2<\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate slides for the third consecutive day following the BOE\u2019s warning of a prolonged recession ahead. The pair declined -0.07% in the previous session settling on Friday at \u20ac1.1865, after trading in a range between \u20ac1.1890 \u2013 \u20ac1.1830.<\/p>\n<p>At 06:01 UTC, GBP\/EUR trades -0.03% at \u20ac1.1862.<\/p>\n<p>Last week the Bank of England warned that a slowing economy could push UK\u2019s economy into a long recession, which suggests that the central bank can be limited in raising rates in the coming months. The BOE delivered a much anticipated 50 basis-point interest-rate hike to 1.75% up from 1.25%.<\/p>\n<p>BOE\u2019s baseline forecast is for GDP to fall by 1.25% in 2023. Based on the market consensus, the UK economy is expected to contract by -0.2% in Q2 of 2022 down from +0.8% in the first quarter.<\/p>\n<p>At the same time, the gross domestic product for the month of June is expected to contract by -1.3% down from the 0.5% previous reading.<\/p>\n<p>Elsewhere, the domestic stock market index in the UK closed near a two-month high settling on Friday up 0.16% at 7445.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound slides against EUR for the third day BOE warns of a long recession FTSE 100 continues to climb UK\u2019s GDP is expected to contract by -0.2% in Q2 The Pound Euro (GBP\/EUR) exchange rate slides for the third consecutive day following the BOE\u2019s warning of a prolonged recession ahead. The pair declined -0.07% in [&hellip;]<\/p>\n","protected":false},"author":163946612,"featured_media":5360,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1439,1395,1394,2410],"class_list":{"0":"post-112879","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-gbp","9":"tag-boe","10":"tag-eur","11":"tag-gbp","12":"tag-gbp-eur"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Pound Tumbles amid BOE\u2019s Recession Warning - 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\/107204-gbp-eur-pound-tumbles-amid-boes-recession-warning\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stelian Olar\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107204-gbp-eur-pound-tumbles-amid-boes-recession-warning\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107204-gbp-eur-pound-tumbles-amid-boes-recession-warning\\\/\"},\"author\":{\"name\":\"Stelian Olar\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/c83637dd6dc82bcaadbc8b6c994d1186\"},\"headline\":\"GBP\\\/EUR: Pound Tumbles amid BOE\u2019s Recession Warning\",\"datePublished\":\"2022-08-08T06:05:11+00:00\",\"dateModified\":\"2022-08-08T06:06:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107204-gbp-eur-pound-tumbles-amid-boes-recession-warning\\\/\"},\"wordCount\":211,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107204-gbp-eur-pound-tumbles-amid-boes-recession-warning\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100904-gbp-eur-brexit-wait-and-see.jpg\",\"keywords\":[\"boe\",\"eur\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107204-gbp-eur-pound-tumbles-amid-boes-recession-warning\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107204-gbp-eur-pound-tumbles-amid-boes-recession-warning\\\/\",\"name\":\"GBP\\\/EUR: Pound Tumbles amid BOE\u2019s Recession Warning - 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