{"id":115443,"date":"2023-11-29T10:34:12","date_gmt":"2023-11-29T10:34:12","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=115443"},"modified":"2023-11-30T11:46:08","modified_gmt":"2023-11-30T11:46:08","slug":"107837-gbp-eur-euro-slips-as-inflation-cools","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/107837-gbp-eur-euro-slips-as-inflation-cools\/","title":{"rendered":"GBP\/EUR: Euro slips as inflation cools"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/gbp-pound-sterling-live-exchange-rate\/\">Pound<\/a> (GBP) rises for a fifth day<\/strong><\/li>\n<li><strong>BoE\u2019s Governor Bailey pushes back on rate cut bets<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) eases as Spanish inflation cools<\/strong><\/li>\n<li><strong>German inflation is due next<\/strong><\/li>\n<\/ul>\n<p>The Pound Euro (GBP\/EUR) exchange rate is rising for a fifth straight day. The pair rose +0.18% in the previous session, settling on Tuesday at \u20ac1.1545 and trading in a range between \u20ac1.1514 &#8211; \u20ac1.1557. At 09:00 UTC, GBP\/EUR trades +0.03% at \u20ac1.1547.<\/p>\n<p>The pound is pushing higher, extending gains to reach its strongest level against the euro in six weeks. The pound is being lifted by comments from Bank of England governor Andrew Bailey who continued to push back on market expectations of an interest rate cut early next year. Andrew Bailey warned that he would do whatever it takes to bring inflation back to the 2% target.<\/p>\n<p>The rhetoric from Bank of England policymakers has been that the central bank needs to keep interest rates restricted for an extended period of time.<\/p>\n<p>Bank of England chief economist Hugh Pill has suggested that the market pricing for a Q3 2024 cut is not unreasonable, which means that the ECB could be the first central Bank of the pair to cut interest rates.<\/p>\n<p>According to data from Reuters, since 1995, the average length of time between the last hike and the first rate cut has been 9.5 months. With this in mind and given that the Bank of England has left rates on hold since August a rate cut could be expected around the May to August period next year.<\/p>\n<p>The euro is falling with inflation data in focus. Spain&#8217;s annual inflation fell to 3.2% year on year in November thanks to cheaper fuel and tourist packages. This was down from October&#8217;s 3.5% reading and below the 3.7% that analysts had penciled in.<\/p>\n<p>German inflation figures are up next or expected to cool to 3.5% year on year in November, down from 3.8% in October. The German regional inflation figures have so far shade that inflation cooled by more than expected in November.<\/p>\n<p>These figures come as the ECB continues to try to push back on rate-cut bets. However, cooler-than-expected inflation could fuel bets that the ECB will be the first central bank to cut interest rates next year.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pound (GBP) rises for a fifth day BoE\u2019s Governor Bailey pushes back on rate cut bets Euro (EUR) eases as Spanish inflation cools German inflation is due next The Pound Euro (GBP\/EUR) exchange rate is rising for a fifth straight day. The pair rose +0.18% in the previous session, settling on Tuesday at \u20ac1.1545 and [&hellip;]<\/p>\n","protected":false},"author":163946598,"featured_media":5643,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1395,1394,2410],"class_list":["post-115443","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GBP\/EUR: Euro slips as inflation cools - 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\/107837-gbp-eur-euro-slips-as-inflation-cools\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\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\\\/107837-gbp-eur-euro-slips-as-inflation-cools\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107837-gbp-eur-euro-slips-as-inflation-cools\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Euro slips as inflation cools\",\"datePublished\":\"2023-11-29T10:34:12+00:00\",\"dateModified\":\"2023-11-30T11:46:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107837-gbp-eur-euro-slips-as-inflation-cools\\\/\"},\"wordCount\":373,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107837-gbp-eur-euro-slips-as-inflation-cools\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100662-gbp-eur-pound-declines-light-data.jpg\",\"keywords\":[\"eur\",\"gbp\",\"gbp\\\/eur\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2023\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107837-gbp-eur-euro-slips-as-inflation-cools\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/107837-gbp-eur-euro-slips-as-inflation-cools\\\/\",\"name\":\"GBP\\\/EUR: Euro slips as inflation cools - 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