The pound euro (GBP\/EUR) exchange rate is rising for a fifth straight day, pushing above \u20ac1.1550.<\/p>\n
The pound is being boosted by BoE officials, who are pushing back on market expectations for a rate cut early in 2024. BoE Governor Andrew Bailey warned that the central bank would do whatever is necessary to bring inflation down to the 2% target.<\/p>\n
The euro is falling as Spanish inflation unexpectedly cooled to 3.2% YoY from 3.5%. German inflation data is due shortly and is expected to cool to 3.5% from 3.8%.<\/p>\n
Cooling inflation supports the view that the ECB could be the first major central bank to cut rates.<\/p>\n","protected":false},"excerpt":{"rendered":"
The pound euro (GBP\/EUR) exchange rate is rising for a fifth straight day, pushing above \u20ac1.1550. The pound is being boosted by BoE officials, who are pushing back on market expectations for a rate cut early in 2024. BoE Governor Andrew Bailey warned that the central bank would do whatever is necessary to bring inflation […]<\/p>\n","protected":false},"author":163946598,"featured_media":5408,"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-115445","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-eur","tag-gbp","tag-gbp-eur"],"acf":[],"yoast_head":"\n